TRON Stops Above $0.131 But Continues Its Upward Trend

The price of TRON (TRX) has continued its uptrend and remained above the 21-day SMA on July 22.

The cryptocurrency was unable to continue its uptrend despite reaching a high price of $0.14 twice.

Long-term forecast for the TRON price: bullish

Now, TRON is trading at $0.135 as it resumes its uptrend. It is predicted that the altcoin will reach a high of $0.145 if it breaks through the current barrier. 

However, if the price of the cryptocurrency falls below the 21-day SMA support, the bullish scenario will be negated. TRON will fall and retest the low above the 21-day SMA support at $0.125. In the meantime, the altcoin is trading above the moving average lines.

TRON indicator reading

Since June 22, the price bars have remained above the moving average lines, indicating that the cryptocurrency is continuing its positive trend. On July 22, the bears attempted to break through the 21-day SMA support, but were unsuccessful. This indicates that the value of the cryptocurrency will continue to rise.

Technical Indicators 

Key Supply Zones: $0.13, $0.14, $0.15

Key Demand zones: $0.10, $0.09, $0.08

What's the next move for TRON?

TRON is in an uptrend, although its upward movement has stalled at $0.14 since July 13. Buyers are rebuilding above the moving average lines to retest the current resistance. On the 4-hour chart, TRON is in a sideways trend and is preparing to resume its uptrend.

In the previous analysis Coinidol.com reported that the price of the cryptocurrency was between the moving average lines. TRON was predicted to resume its uptrend once it breaks above the 50-day SMA. 

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 research before investing in funds.