TRON Hovers Above $0.27 as Traders Remain Uncertain

Currently, TRON has slipped below the moving average lines after being rejected at the recent high.

TRX price long-term forecast: ranging

Since November 4, the TRON price has held above the $0.27 threshold, halting its previous decline. The altcoin has traded within a range of $0.27 to $0.29 over the past month. Buyers have pushed the price above the moving average lines three times, but each attempt was rejected at the $0.29 resistance. If buyers succeed, TRON could revisit its previous highs of $0.33 and $0.35.

The price is expected to decline and retest the $0.27 support. So far, sellers have not resumed significant pressure below the current $0.27 support level. At present, the altcoin is valued at $0.279.

Technical Indicators

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  Key Resistance Zones: $0.40, $0.45, and $0.50

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  Key Support Zones: $0.20, $0.15, and $0.10

TRON price indicator analysis

The price bars have fluctuated both below and above the horizontal moving average lines. The price action is characterised by Doji candlesticks, indicating traders’ indecision about the market direction. On the 4-hour chart, the cryptocurrency trades below the horizontal moving average lines.

What is the next move for TRON?

TRON’s price is moving sideways above the $0.27 support. On the 4-hour chart, the price has fallen below the moving average lines for the third time. The sideways trend is likely to continue if the altcoin declines but remains above the $0.27 support. However, if the current support is broken, the price could fall as low as $0.25.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.