TRON's Uptrend Is Shaky As The Price Is Stuck At $0.11
The altcoin is trading in the overbought zone of the market. More details in this cryptocurrency price analysis by Coinidol.com.
TRON (TRX) price long-term prediction: bullish
The price of TRON (TRX) has temporarily paused its uptrend after reaching a high of $0.11 on November 11.
It is currently oscillating between the price levels of $0.10 and $0.11. If the bulls break through the resistance at $0.11, the market will rise to a high of $0.13. However, the uptrend is shaky due to the overbought status of the cryptocurrency. TRON is at risk of a decline if the bears fall below the support level of $0.09 or the moving average lines. The decline will continue until the price reaches the low of $0.08.
TRON (TRX) indicator reading
The current uptrend is indicated by the upward moving average lines. However, when the uptrend ended at the recent high of $0.11, the moving average lines moved sideways. On the 4-hour chart, the price of the cryptocurrency is currently trapped between the moving average lines.TRON will continue to move sideways for a few more days.
Technical indicators
Key Supply Zones: $0.07, $0.08, $0.09
Key Demand zones: $0.06, $0.05, $0.04
What is the next direction for TRON?
TRX/USD has been trading since the uptrend was halted on November 10. Over the past five days, TRON has been confined to a range. Buyers are struggling to resume an uptrend above the $0.11 high as the cryptocurrency remains above the $0.10 support.
TRON (TRX) value has been declining since November 1 after reaching a high of $0.10.
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.