The price of TRON (TRX) has resumed its horizontal trend after reaching the $0.26 level.
TRON price long-term forecast: rangingÂ
The crypto price has fallen and is trading above the 21-day SMA support. The inability of buyers to push the price above the $0.26 barrier twice was the reason for the fall. If the buyers break the barrier at $0.26 and $0.27, the altcoin will reach its high of $0.30.
On the downside, TRON will slip above the 50-day SMA or the low at $0.237 as the downtrend has broken below the 21-day SMA. If the 50-day SMA holds as support, the sideways trend will continue. In other words, TRON will fall back to its horizontal trend between the $0.26 high and the $0.235 support.
At the time of writing, the altcoin is valued at $0.243.
TRON price indicator analysis
The price bars for TRON have fallen above the 50-day SMA low but below the 21-day SMA support. The cryptocurrency has fallen between the moving average lines, starting a range-bound move. The price bars on the 4-hour chart are below the moving average lines, but the decline has stalled above the $0.24 support. On both charts, the moving average lines remain horizontal.
Technical IndicatorsÂ
Key Resistance Zones: $0.40, $0.45, and $0.50Â
Key Support Zones: $0.20, $0.15, and $0.10
What is the next move for TRON?
TRON is trading sideways between the $0.24 support and the $0.26 resistance. The crypto price has fallen below the moving average lines after rising above the $0.24 support. In other words, the crypto price is static as it consolidates due to traders’ hesitation.
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.Â
