TRON Falls Well Above The $0.08 Low

Cryptocurrency analysts of Coinidol.com report, the price of TRON (TRX) has risen and retested the upper barrier at $0.085.

TRON (TRX) Price Long Term Forecast: Bullish

On July 22, the price of the cryptocurrency broke through the $0.085 resistance level and rose to a high of $0.094. The price rise promptly fell back below the previous overhead resistance and resumed the selling pressure.

After a recent price decline, TRON is currently trading at $0.081. If the price declines and stays above the moving average lines, the crypto will resume its rise. If the price declines and falls below the moving average lines, the current uptrend could come to an end. TRX will fall to a low of $0.070.

TRON (TRX) Indicator Reading

TRON is in an uptrend as shown by the Relative Strength Index, which is currently at 57. The altcoin will rise if the price bars stay above the moving average lines. The daily stochastic shows that the altcoin is currently in a downtrend below the 50 level. The downward momentum has paused above the $0.080 support.

Technical Indicators 

Key supply zones: $0.07, $0.08, $0.09

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

What is the next direction for TRON (TRX)?

TRON is trading above the moving average lines in a positive trend zone. The rising trend has continued since the price cut on June 10. The price of the cryptocurrency has risen in a series of higher highs and lower lows. If the current setback continues, the uptrend will continue.

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.