Coinidol.com: TRON's Bullish Rise Stalls Below $0.31

The TRON price has climbed above the 21-day SMA after the bullish trend ended at $0.32.

TRX price long-term forecast: bullish

The cryptocurrency fell below the 21-day SMA support but remained above the 50-day SMA support. Today, buyers pushed the price back above the 21-day SMA. TRON is rising and is expected to retest its previous high of $0.32.

However, if buyers break through the $0.32 barrier, TRON could surge to $0.37. Conversely, if the altcoin declines from the $0.32 high, it will likely trade in a range below the recent high but above the moving average lines. At the time of writing, TRON price is at $0.306.

Technical Indicators

• Key Resistance Zones: $0.40, $0.45, and $0.50

• Key Support Zones: $0.20, $0.15, and $0.10

TRON price indicators analysis

The price bars have moved above the upward-sloping moving average lines. TRON has the potential to rise further while it remains above these lines. On the 4-hour chart, the price bars are positioned between downward-sloping moving average lines, suggesting the cryptocurrency may be confined to a range-bound movement within this narrow band.

What is the next move for TRON?

TRON's price is rising on the 4-hour chart. The cryptocurrency reached a high of $0.307 but was halted between the moving average lines. If the 50-day SMA barrier is broken, TRON will likely return to its previous high of $0.32. If the bullish momentum fails, the price will remain stuck between the moving average lines.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.