CandleFocus

Tron (TRX) Price Tests Resistance Zones as Momentum Shifts

Author: Content Editor
Tron (TRX) is currently showing signs of bullish momentum, but its price is down while other major cryptocurrencies are positive. The Ichimoku Cloud chart indicates a generally favorable outlook, with the price remaining above the cloud and the Senkou Span A forming a bullish cloud ahead. However, the Kijun-sen has a flat trajectory, suggesting a pause in momentum. The Tenkan-sen maintains a positive outlook for short-term momentum. The Chikou Span confirms positive momentum but signals a potential consolidation phase. The Directional Movement Index (DMI) indicates moderate trend strength and weak buying pressure. The ADX suggests a lack of significant momentum, pointing to a range-bound period. TRX's EMA lines currently show a bullish pattern, but the short-term lines are starting to turn downward. If the uptrend continues, TRX may test resistances at $0.166 and $0.169. If the trend reverses, support levels at $0.155, $0.152, or even $0.1462 could come into play.

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