The price of TRON (TRX) will fall if it reaches the $0.29 resistance level.
TRX price long-term forecast: bearish
The 50-day SMA kept the price of the cryptocurrency from plunging below the moving average lines. Over the past four days, TRON has been stuck between the moving average lines.
The cryptocurrency will trend every time it crosses the 50-day or 21-day SMA barrier. TRON is expected to drop to a low of $0.24 when the 50-day SMA support is breached.
However, the altcoin will resume its uptrend once buyers push the price above the 21-day SMA barrier. TRON will rise and reach its previous high of $0.29. At the time of writing, TRON is currently valued at $0.27.
TRON indicator analysis
TRON has spent the last four days between the 50-day SMA support and the 21-day SMA barrier. When the moving average lines are broken, the altcoin starts to trend down. The ascending moving average lines show the previous upswing.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What is the next move for TRON?
TRON has spent the last four days range-bound. After being halted above the $0.27 support, the altcoin is now starting to rise. Depending on where the price fluctuates, the cryptocurrency will either rise or fall. It is now limited to the range between $0.266 and $0.275. The range of the crypto signal will be limited for a few days.
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.
Source: https://coinidol.com/tron-is-restricted/