Tron may experience a further reduction in price towards the support level of $0.015, more pressure from the bears may break the support level and the support level of $0.0 will be exposed.
Key Highlights:
- Further reduction in price may be experienced;
- bears are still in control of the price;
- the support level of $0.01 may be exposed in case support level of $0.05 is broken.
TRX/USD Long-term Trend: Bearish
Resistance levels: $0.024, $0.031, $0.041
Support levels: $0.015, $0.010, $0.05
The price is below 10-day EMA and 50-day EMA is above the 10-day EMA. There is a probability for further reduction of the price towards the support level of $0.015 this week. In case bears put in more pressure, the support level of $0.015 may break and the support level of $0.010 will be exposed.
Nonetheless, should the support level of $0.05 holds, the price might go up within the next several trading days, by making a break out towards the North at $0.024. The Stochastic Oscillator Period 14 on the daily chart is above level 20 with the signal lines pointing towards the south, indicating that there could be further bearish movement this week.
TRX/USD Price Medium-term Trend: Bearish
In case more buyers come in this week there is a probability that the price will experience uptrend movement towards the resistance level of $0.024.However, the Stochastic Oscillator Period 14 is above 20 level, with the signal lines directed towards the south indicate a further reduction in price.
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