TRON has been moving sideways since the uptrend was halted at the $0.17 barrier zone on August 26. The altcoin is rising, reaching a high of $0.163.
TRX price long-term forecast: bullish
Now, the TRON (TRX) price is rising while it is in a sideways trend. Buyers are planning to push the price above the $0.17 level. TRON has been trading above the moving average lines but slightly below the overhead resistance over the past month.
On a positive note, if the buyers are successful, the market will reach a high of $0.22. Conversely, the altcoin will continue to move sideways below the overhead barrier if it is rejected from the recent high. TRON is currently worth $0.163.
TRX indicator analysis
The moving average lines on the daily chart appear horizontal as doji candlesticks have formed. However, trader reluctance is expected to slow down the uptrend. The moving average lines show a bullish crossover, indicating that the cryptocurrency will continue to rise.
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?
TRON is trending upwards on the 4-hour chart. TRON is going through a cycle of higher highs and higher lows. The altcoin is able to rise as long as the price bars are above the moving average lines. Currently, the upward movement has stalled below the $0.164 resistance level.
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-uptrend-continues/