Cryptocurrency analysts of Coinidol.com report, TRON (TRX) is currently trading in a positive trend zone.
TRON has been posting regular positive gains since the June 10 price decline. At the time of writing, the altcoin is trading at $0.077. The uptrend seems to face early resistance near the high of $0.78. Bulls have been struggling to break above the last resistance level since July 4. If buyers break through the current resistance, the market could rise to a high of $0.080 or $0.085.
TRON is increasing and reached the Relative Strength Index 61 for the period 14. The altcoin has been in a positive trend for a month. The upward momentum has accelerated as the price bars are above the moving average lines. The bullish momentum has stalled above the daily stochastic threshold of 40.
TRON has restored its bullish momentum after rising above the moving average lines. The altcoin is on the verge of surpassing the recent highs of $0.080 and $0.085. The current uptrend may have ended at a high of $0.085. The current high represents an overbought region of the market. Sellers will emerge in the overbought region of the market.
On Jun 28, 2023, Coinidol.com reported that: The price of the cryptocurrency broke above the moving average lines, but may face resistance near the high of $0.076 or $0.078. The market was overbought at the recent highs.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their own research before investing in funds.