TRON Remains Static And Hovers Above $0.24

The latest price analysis by Coinidol.com report, the price of TRON (TRX) has declined since December 18 and is trapped between the moving average lines.

TRON price long term forecast: bearish

The altcoin is trading above the 50-day SMA support but below the 21-day SMA resistance. The formation of a doji candle has caused the price action to remain static between the moving average lines. TRX threatens to fall further if the bears break below the 50-day SMA. The altcoin will fall to a low of $0.188. However, the altcoin will regain upside momentum if the buyers sustain the price above the 21-day SMA resistance. TRX will rise to the high of $0.30. Meanwhile, the altcoin is worth $0.25 at the time of writing.

TRON indicator analysis

The crypto price has been between the moving average lines since December 18. TRON has no trend as neither the bulls nor the bears have broken through the moving average lines. Doji candlestick formations have dominated the market action and caused the altcoin to stagnate.

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?

On the 4-hour chart, TRON is moving sideways but consolidating above the $0.24 support and below the $0.27 resistance. The price movement is steady and remains above the current support level of $0.24. The development of doji candlesticks reflects traders' indifference to the market direction.

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