The price of TRON (TRX) continues to oscillate sideways above the support of $0.22 but below the resistance of $0.26. Price analysis by Coinidol.com.
TRX price long-term forecast: ranging
The price action has remained steady due to the presence of doji candlesticks and the altcoin is trading in a narrow range.
The resistance level at $0.25 has hindered the altcoin’s upward movement. If the first barrier is breached, TRON will rise much further to a high of $0.28. TRX has been trading below the $0.25 level since February 11.
TRON price indicator analysis
The price bars are above the moving average lines, but the positive momentum has been delayed by the $0.25 barrier. The horizontal moving average lines indicate a sideways trend.
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 TRON?
TRON is in a sideways trend. On the 4-hour chart, the $0.25 barrier has resisted the higher price movements four times. The altcoin is oscillating above and below the moving average lines after the rejection. The price bars are above the moving average lines and are preparing to rise.
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 Coin Idol. Readers should do their research before investing in funds.
Source: https://coinidol.com/tron-price-sideways-trend/