TRON Falls Above $0.110 And Resumes Its Horizontal Trend

Apr 13, 2024 at 09:15 // Price
Coin Idol

The price of TRON (TRX) is in a sideways trend, trading above $0.11 but below $0.126. Price analysis by

Long-term prediction of the TRON price: range

The price of the cryptocurrency has been trading in a range since breaking above the 21-day SMA. If buyers sustain their bullish momentum above the 50-day SMA, TRON will resume its uptrend. The cryptocurrency will rise to its previous high of $0.144.

On the other hand, if the bears breach the support level of $0.11, the altcoin will drop to a low of $0.10. Meanwhile, TRON is trading at $0.121 at this time.

TRON indicator analysis

TRON price bars have risen above the 21-day SMA and are approaching the 50-day SMA. The bullish momentum will continue if the 50-day SMA is breached. The altcoin will be forced to trade in a range between the moving average lines as long as the 21-day SMA and the 50-day SMA remain unbroken. The 4-hour chart of the altcoin shows a horizontal trend.

Technical indicators

Key supply zones: $0.09, $0.10, $0.11

Key demand zones: $0.06, $0.05, $0.04

TRXUSD_ (Daily Chart) – April 12.jpg

What is TRON's next move?

On the 4-hour chart, the cryptocurrency is moving in a narrow range of $0.116 to $0.124. Doji candlesticks dominate the price activity. Doji candlesticks indicate the trader's indifference to the market direction.

TRXUSD_ (4-hour Chart) – April 12.jpg

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 Readers should do their research before investing in funds.

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