The price of TRON (TRX) has continued to rise, reaching a high of $0.31 after breaking through resistance at $0.29.
TRON price long-term forecast: bullish
The bullish momentum has reached the historical price on December 12, 2024. The altcoin has reached the overbought zone of the market. TRON pricecould be rejected at the high of $0.32.
On the upside, buyers have failed to sustain the uptrend above the $0.31 high since December 12. Today’s cryptocurrency price is oscillating below the $0.32 high. The candlestick wick indicates strong selling pressure and a seller presence near the recent high. TRON is now $0.31.
TRON price indicators analysis
The horizontal moving average lines are now sloping upwards, indicating an upward trend. The cryptocurrency gains value when the price breaks above the 21-day SMA support. The moving average lines on both charts are sloping north.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What’s the next move for TRX?
TRON has reached a high of $0.31. Bullish momentum is meeting resistance at the $0.315 high. Long candlestick wicks indicate selling pressure in the overbought area of the market. Currently, the price of the cryptocurrency is locked in at its recent high. It is uncertain whether the altcoin will break above the overhead resistance level.
Coinidol.com reported that on July 14 the price of TRON was rising and surpassed the $0.29 threshold.
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/trx-oscillates-below/