TRON Pauses At $0.25 And Continues Its Range

The price of TRON (TRX) has halted its upward correction as buyers were unable to sustain the price above the moving average lines.

TRON price long term forecast: bearish 

Since the price decline on December 20, 2024, the bulls have been fighting an uphill battle to keep the price above the moving average lines, as reported by Coinidol.com. 

As a result, TRON is trading above the $0.22 support but below the moving average lines. On the upside, the 50-day SMA has halted the bulls' four efforts to keep the price above the moving averages.

On the downside, the altcoin will drop to its previous low of $0.19 if it falls and breaks the current support of $0.22. The current value of TRON stands at $0.235.

TRON indicator analysis

The price bars show the decline as they are below the horizontal moving average lines. However, the selling pressure has broken above the $0.22 support. The altcoin is in a rangebound below the moving average lines and above the current support.

Technical Indicators

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

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

What is the next move for TRON?

TRON is correcting higher on the 4-hour chart but has paused at the high of $0.25. The altcoin fell above the $0.23 support as it began its rise above the previous low of $0.22. The price of the cryptocurrency is trading steadily as the doji continues to form. The TRON signal is range-bound as the altcoin continues to be rejected at the moving average lines.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.