The price of TRON (TRX) has remained in a horizontal trend above the moving average lines.
The price of the cryptocurrency is below the $0.255 level and just above the 21-day SMA.
Since April 14, the price movement has been limited to a small range. The upward trend was halted below the high of $0.255. Similarly, selling pressure has stopped above the 21-day SMA support since April 18, as reported by Coinidol.com.
TRON will fall if it loses the 21-day SMA support, but it will first drop to $0.24 before falling to $0.225. Although TRON is facing resistance at $0.255, the price is rising today.
TRON is trading in a positive trend when the price bars are above the moving average lines. Due to the doji candlesticks, the price is stagnating within a narrow range. The sideways trend is indicated by the moving average lines lying on a straight line.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
TRON's horizontal trend has kept the price stable. Due to the indecision of traders regarding the market direction, the cryptocurrency value is moving within a narrow range.
On the 4-hour chart, the price of TRON is fluctuating below the resistance at $0.255 but is stable above the support at $0.244. Since April 14, the present barrier has remained unbroken.
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.
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