The price of TRON (TRX) has resumed its uptrend above the 21-day SMA support.
TRON price long-term prediction: bullish
On July 29, as reported by Coinidol.com, TRON rose to a high of $0.35, but was unable to break through the recent high. The cryptocurrency has retreated and found support above the 21-day SMA.
However, had the downtrend broken the 21-day SMA support, the altcoin would have fallen to lows of $0.30 and $0.25.
Today, the altcoin is rising and approaching the previous high of $0.35. If the bulls break through the $0.35 barrier, the altcoin will return to its previous high of $0.45. TRON has reached a high of $0.33 at the time of writing.
TRX indicator analysis
TRON has pulled back above the 21-day SMA support, which has pushed it higher. The altcoin will continue to rise as long as it stays above the 21-day SMA support. The uptrend will end when the 21-day SMA support is broken. TRON keeps rising due to the presence of doji candlesticks.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What is the next move for TRON?
TRON is in a steady upward trend on the 4-hour chart. The price of the cryptocurrency is trading above the moving averages but below the $0.35 mark. The price of the altcoin is rising as it approaches the $0.35 mark. The uptrend will begin when buyers push the price above the $0.35 mark. If TRON fails to break through the $0.35 mark, the price will continue to trend sideways.
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.
