- Tron coin is presently trading near the vital moving average (MA) of 200-Day and forming the bearish candle on a daily chart
- The coin fails to break out from the sideways trend and facing the resistance of the 20-Day moving average (DMA)
- The pair of TRX/BTC is trading flat with an intraday loss of -0.78% standing at 0.000002074 BTC; whereas, TRX/ETH is CMP at 0.00002892 ETH gains over +1.36% in the last 24-hours
Tron coin price over the monthly chart is looking sideways and presently trying to hold 200-day moving average support. Meanwhile, the closing of the day candle below 200-DMA will favor bears and the coin can correct more. The DMA of 20 and 100, is acting as a hurdle on the higher side and bulls must push TRX above them.
Similarly, the volume over the chart is gradually decreasing, as it falls below the average line and needs to improve for a pullback. We can witness a good pullback if the coin manages to hold a 200-DMA support line with good volume support. Support on the lower side is at $0.066 and $0.054; likewise, resistance on the higher side at $0.085 and $0.100.
Tron Coin Showcasing Range-Bound Trade
Tron coin over the weekly time horizon is showcasing a range-bound trade, as the coin is trading sideways. Whereas, the technical parameters are also highlighting the same with no clear directional momentum. Volume activity at the 4-hour time frame is flat and no major activity is observed. Presently, Tron is trading at $0.075 with an intraday loss of -5.33% and a volume/market cap ratio standing at 0.2962.
Relative Strength Index (NEUTRAL): Tron coin RSI is presently projecting a flat trend over the weekly chart after correcting from the overbought zone. While trading at 47 levels.
Moving Average Convergence Divergence (NEUTRAL): Currently trading with the mixed crossover on a daily chart. The buyer’s signal line (green) and the seller’s line (red) are overlapping each other.
Support levels: $0.066 and $0.054
Resistance levels: $0.085 and $0.100.
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