CandleFocus

TRON Rises Steadily Above The $0.24 Support Level

Author: Content Editor
The price of TRON (TRX) has entered a sideways trend after finding support at $0.217. Analysts predict that the altcoin could decline and reverse at $0.1832, or the 1.272 Fibonacci extension. The price of TRON has risen above the 21-day SMA but remains below the 50-day SMA barrier. If it breaks above the 50-day SMA, the price could continue to rise to $0.30. However, if it turns down from the 50-day SMA, TRON could remain trapped between the moving average lines for a few days. Currently, TRON is moving steadily above its 21-day SMA support, priced at $0.245. The price bars are dominated by doji candlesticks, indicating a gradual price movement. Key resistance zones for TRON are $0.40, $0.45, and $0.50, while key support zones are $0.20, $0.15, and $0.10. On the 4-hour chart, TRON is trapped between the moving average lines and is trading between the support of $0.22 and the resistance level of $0.28. If the price breaks above the 50-day moving average line, TRON is expected to resume its positive trend and reach the previous high of $0.28. It is important to note that this analysis and forecast are the personal opinions of the author and not an endorsement or recommendation to buy or sell cryptocurrency. Investors should conduct their own research before making investment decisions.

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