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Tron (TRX) Price Analysis: Bears In Control Below $0.013

Summary:
Tron price topped near the %excerpt%.0140 level and declined sharply towards %excerpt%.0120 against the US Dollar.TRX price is currently correcting higher from %excerpt%.0120, but it is facing many hurdles.There is a key bearish trend line forming with resistance near %excerpt%.0130 on the 4-hours chart (data feed via Bitfinex).The price could either surge above the %excerpt%.0130 resistance or it might continue below %excerpt%.0120.TRON price is showing a few bearish signs below the %excerpt%.0130 resistance against the US Dollar, similar to bitcoin. TRX price remains at a risk of more losses if it fails to climb back above %excerpt%.0130.Tron Price AnalysisIn the past few days, there was a key decline in TRON price from the %excerpt%.0140 resistance area against the US Dollar. TRX price traded below a few important supports near %excerpt%.0130 to move into

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  • Tron price topped near the $0.0140 level and declined sharply towards $0.0120 against the US Dollar.
  • TRX price is currently correcting higher from $0.0120, but it is facing many hurdles.
  • There is a key bearish trend line forming with resistance near $0.0130 on the 4-hours chart (data feed via Bitfinex).
  • The price could either surge above the $0.0130 resistance or it might continue below $0.0120.

TRON price is showing a few bearish signs below the $0.0130 resistance against the US Dollar, similar to bitcoin. TRX price remains at a risk of more losses if it fails to climb back above $0.0130.

Tron Price Analysis

In the past few days, there was a key decline in TRON price from the $0.0140 resistance area against the US Dollar. TRX price traded below a few important supports near $0.0130 to move into a bearish zone.

Besides, there was a close below the $0.0130 level and the 55 simple moving average (4-hours). The price traded as low as $0.0120 and it seems like it is forming a support base above $0.0120.

Tron price is currently correcting higher and trading above the $0.0125 level. It is testing the 50% Fibonacci retracement level of the recent decline from the $0.0132 high to $0.0120 low.

On the upside, there is a major hurdle forming near the $0.0130 level and the 55 simple moving average (4-hours). Moreover, there is a key bearish trend line forming with resistance near $0.0130 on the 4-hours chart.

The trend line is close to the 76.4% Fibonacci retracement level of the recent decline from the $0.0132 high to $0.0120 low. Therefore, the bulls are likely to struggle near the $0.0130 resistance level.

A successful close above the trend line and the 55 SMA is needed to start a fresh increase. The next key resistance is near the $0.0140 level, above which the price might rise towards the $0.0145 and $0.0150 levels.

Conversely, the bulls could fail to push the price above the $0.0130 resistance. An initial support on the downside is near the $0.0124 level. The main support is near the $0.0120 level, below which the price might tumble to $0.0110.

Tron Price

Tron Price

The chart indicates that TRX price is clearly approaching a major hurdle near $0.0130. Therefore, it could either surge above the $0.0130 resistance or it might continue below $0.0120.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly losing momentum in the bullish zone.

4 hours RSI – The RSI for TRX/USD is currently correcting just below the 50 level.

Key Support Levels – $0.0124 and $0.0120.

Key Resistance Levels – $0.0129, $0.0130 and $0.0140.

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