Today TRON has fallen between the moving average lines. If the bears break the 50-day SMA to the downside, TRON will fall back to the lower $0.15 price area.
Long-term TRX price forecast: fluctuation range
TRON (TRX) price has been moving sideways since the end of the uptrend on August 26, as reported by Coinidol.com. The sideways movement is limited to the $0.15 and $0.17 levels. The cryptocurrency value is declining and moving sideways.
The altcoin will find support and continue its uptrend. However, the cryptocurrency will be caught between the moving averages if the 50-day SMA support holds. TRON is currently worth $0.156.
TRX indicator analysis
TRON has slipped between the moving average lines and pulled back slightly towards the lower price area. Despite the sideways trend, the moving average lines are still trending north. In addition, the price action has been further restricted by the appearance of doji candlesticks.
Technical Indicators
Key Resistance Zones: $0.13, $0.14, and $0.15
Key Support Zones: $0.10, $0.09, and $0.08
What is the next move for TRON?
On the 4-hour chart, TRON has dropped below the moving average lines. The altcoin has been repelled twice from its high at $0.164.
On the downside, the altcoin is slipping and approaching the previous low of $0.153. However, if the bears break the support of $0.15, TRON will fall above the low of $0.14.
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-falls-further/