TRX price analysis: Tron price trading positive near the crucial MA of 20 days

  • The Tron price is trading green near the vital level of the 20-day moving average, which must continue for further positive momentum
  • The coin is currently mostly traded at major moving averages of 20, 50, 100 and 200 days
  • The TRX / BTC pair is trading positive with an intraday jump of + 4.10% and is at 0.000002464 BTC

Source: trade view

Tron The price above the monthly chart is bullish after a healthy correction to the new 52-week mark of $ 0.1799. In contrast, the 50-day moving average has seen a good rebound with good buying interest while a positive rally has been seen. However, the coin projects bullish momentum from lower levels (50-DMA) but the volume is small. Since the volume has to be improved for positive dynamics, which is below the average limit. The TRX price currently trades primarily on the major moving averages of 20, 50, 100 and 200 days, which favor bulls over the long term. Support on the lower side is at $ 0.1170 and $ 0.0970. Similarly, levels of $ 0.1580 and $ 0.1800 act as resistance.

The weekly chart is trading under pressure

Source: trade view

Tron The price above the weekly chart is trading under pressure. It seems that bears overwhelm bulls, while technical parameters favor bears. The coin is currently trading at $ 0.1380 with intraday gains of -4.56% and a -0.87% drop in volume to $ 4,387,543,324. While there is some sell-off on the daily chart, the general trend is bullish. Additionally, the coin is finding short-term support at $ 0.1300 and $ 0.1220, while resistance is at $ 0.1500 and $ 0.1780. The total market cap is increased + 4.17% and ranks 22nd at $ 9,836,686,624.

Relative Strength Index (NEUTRAL) indicates bearish momentum in trading at 48.62. However, TRX is again moving towards an oversold zone and cannot be sustained at higher levels.

Moving Average Convergence Divergence (MIXED) is currently showing a mixed trend on the daily chart. The seller’s line (red) and the buyer’s signal line (green) currently overlap without any signs of significant momentum.

Support levels: $ 0.1170 and $ 0.0970

Resistance Levels: $ 0.1580 and $ 0.1800

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