TRON Halt At $0.07 Due To Resumption Of A Sideways Trend

Mar 22, 2023 at 13:22 // Price
Coin Idol
TRON is trading in a narrow range

The price of TRON (TRX) is in a sideways movement but remains in the bullish trend zone.

TRON price long-term forecast: in the range

The crypto asset has fluctuated as the rise that began on March 13 has stalled. Today, TRON is starting to climb and is trading at $0.067. Currently, there are doji candlesticks that have slowed the price movement. Small candles that have no body show that both buyers and sellers do not care about the price movements. Last week, the altcoin fluctuated within a firm range of $0.064 and $0.068. Due to resistance in the overbought zone, TRON is currently declining. The market will weaken and reach the price range of $0.064. The value of the altcoin will rise if it falls above the moving average lines. During this period, the price has not changed in relation to the moving average lines.

TRON indicator display

TRON is at level 52 of the Relative Strength Index for period 14, which explains that the cryptocurrency could continue to rise in the bullish trend zone. The price bars are above the moving average lines, which could lead to an increase in the altcoin. The cryptocurrency is in a bearish momentum below level 80 of the daily stochastic. The altcoin has fallen to the low of $0.066.

TRXUSD(Daily Chart) - March 22.23.jpg

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

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

What is the next direction for TRON?

TRON is trading in a narrow range. The presence of doji candlesticks makes it unlikely that the altcoin will develop a trend. In the next few days, the price will move in a narrow range. Buyers were not able to keep the price above $0.07, the overriding resistance.

TRXUSD( 4 Hour Chart) - March 22.23.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 Coin Idol. Readers should do their own research before investing in funds.

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