TRON (TRX) price is on the rise. The cryptocurrency’s price is seeing a series of higher highs and higher lows.
TRON price long-term forecast: bullish
The altcoin rose to a high of $0.073 in recent price action, but then fell to a low of $0.067, or above the 21-day line SMA. The moving average lines have been continuously above the uptrend. TRON will rebound every time the altcoin goes back above the moving average lines and continue its way up. For example, TRON has risen above the 21-day line SMA as the altcoin aims to break the $0.073 resistance level. On the plus side, the market will rise to a high of $0.083 if the cryptocurrency’s price breaks above the $0.073 resistance. However, if buyers are unable to surpass the recent high, the market will be forced to move in a range between $0.067 and $0.072.
TRON indicator display
The Relative Strength Index for the 14 period shows that TRON is now trading at the 58 level. As the price is above the moving average lines, the altcoin has been steadily rising. TRON sees positive momentum above the daily stochastic threshold of 70. Beyond that, the altcoin is approaching the overbought area.
Key supply zones: $0.07, $0.08, $0.09
Key demand zones $0.06, $0.05, $0.04
What is the next direction for TRON?
TRON is rising as buyers try to push the cryptocurrency to a new high. At $0.072, the upside movement encounters resistance. After the current resistance is broken, the uptrend will resume. The price of the cryptocurrency has been moving between $0.067 and $0.072 since February 20.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing in funds.
Source: https://coinidol.com/tron-rises-continuously-0-073/