The price of TRON (TRX) has resumed positive momentum above the moving average lines after rebounding from a low of $0.259 on June 22.
TRON price long-term forecast: bullish
The bullish momentum has strengthened to a high of $0.279. The uptrend is encountering initial resistance at $0.28. A break above this barrier will catapult the altcoin to a high of $0.29. In the meantime, TRX is trading above the moving averages at $0.278.
TRX price indicators analysis
TRON is rising as the price bars rise above the moving average lines. The altcoin will continue to rise while remaining above the moving average lines.
Currently, the altcoin is on the retreat towards the moving average lines, and a break below it would signal the end of the uptrend.
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 TRX?
TRON has returned to the bullish trend zone after its recent breakout.
On the 4-hour chart, the altcoin is trading above the moving average lines but below the $0.28 level. The price of the cryptocurrency recovered above the 21-day SMA support after rejection at the $0.28 barrier. TRON will rise if the 21-day SMA holds. TRON will fall if the 21-day SMA is violated.
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-risks-falling/