TRON Steady Rise, But May Face Resistance At $0.085

Jul 20, 2023 at 10:37 // Price
Coin Idol
If the current resistance is broken, the market will rise to a high

Cryptocurrency analysts of report, the price of TRON (TRX) is steadily rising and approaching the $0.085 resistance level. Buyers hope to retest or break the $0.085 resistance level.

TRON (TRX) price long-term prediction: bullish

The recent high has not been surpassed since June 3. The price of TRON (TRX) reached a high of $0.082 on July 13, but was rejected. 

TRX traded above the moving average lines but below the resistance last week. If the current resistance is broken, the market will rise to a high of $0.090. 

However, if the price falls below the moving average lines, the current rally could come to an end. The altcoin will then fall to its previous lows of $0.070 and $0.075.

TRON (TRX) Indicator Reading 

TRON price is in the positive trend zone for the period 14 with a Relative Strength Index of 58. TRON can continue to rise in the positive trend zone. The market is rising as the price bars are above the moving average lines. The altcoin rises above the level 40 of the daily stochastic.

Technical Indicators 

Resistance levels: $0.07, $0.08, $0.09 

Support levels: $0.06, $0.05, $0.04

TRX, 20 July 2023

What is the next direction for TRON (TRX)?

TRON has been in an uptrend since the price decline on June 10. The uptrend has held above the moving average lines, and the altcoin will continue to rise as long as the price bars remain above the moving average lines. However, the altcoin will decline if the price falls below the moving average lines.

On July 12, reported: buyers struggled to keep the price of TRX above the high and the price pulled back to $0.077. 

TRXUSD(4 Hour Chart) – July 19.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 own research before investing in funds.

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