TRON (TRX) has continued its bullish run as it pulls back above the $0.32 support.
On July 29, the rally ended after reaching a high of $0.35.
TRON price long-term prediction: bullish
Today, the altcoin is trading above the $0.32 support but below the $0.34 barrier. TRON’s uptrend will begin when it breaks above the $0.35 level.
The positive momentum will extend to a high of $0.45. Similarly, TRON will come under further selling pressure if the bears break below the $0.32 low or the 21-day SMA support. The downside momentum will continue to the low of $0.29. TRON is currently at $0.32.
TRON price indicators analysis
TRON has been trading sideways for the past 48 hours after being rejected at a high of $0.35. On the 4-hour chart, the altcoin is trading above the 50-day SMA support (or the low of $0.32) but below the high of $0.34. The current trend will end if the price falls below the 50-day SMA support.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What’s the next step for TRON?
TRON has been moving sideways at a high of $0.35 in the last 48 hours since the rejection. On the 4-hour chart, the altcoin is trading above the 50-day SMA support (or the low of $0.32) but below the high of $0.34. The current trend will end if the price falls below the 50-day SMA support.
On July 23, The price of TRON was above the $0.31 support level before accelerating back upwards, as reported by Coinidol.com.
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.
