Cryptocurrency analysts of Coinidol.com report, TRON’s (TRX) rally has stalled after the price hit the $0.11 overhead barrier on November 10.
TRON price long term forecast: in range
Over the past month, the cryptocurrency has been trading below the $0.11 resistance level but above the $0.10 support level. On December 11, the cryptocurrency price slipped between the moving average lines, leading to another rejection. The bears are currently retesting the current support level of $0.10. TRON will fall if the bears drop below the 50-day SMA or the $0.10 support level. The sideways trend will end and prices will start to fall. TRON will fall and retest its recent low of $0.095.
TRON indicator reading
The price bars for TRON are located between the moving average lines. This means that the coin will fluctuate within a range. Despite the sideways movement, the moving average lines are sloping upwards. The moving average lines on the 4-hour chart are horizontal and indicate a sideways trend.
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?
TRON is trading in a range between $0.10 and $0.11 per token. Since December 11, the bears have been trying to break through the existing support. The extended candlestick tail at the bottom of the chart indicates that strong buying took place at lower price levels.
Last week Coinidol.com reported that TRON (TRX) has been above the $0.10 support and between the moving average lines since November 27. Doji candlesticks have dominated the market movement after the November 27 price drop.
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 the research before investing in funds.
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- Source: https://coinidol.com/tron-slips-above-0-10/
