Tron is decreasing as more sellers join market
Should bears increase their pressure, the support level of $0.064 may not hold and it may be exposed to another support levels of $0.063 and $0.061 in Tron market.
Resistance levels: $0.066, $0.068, $0.070
Support levels: $0.064, $0.063, $0.061
TRX/USD Long-term Trend: Bearish
The buyers of TRX/USD were unable to push the price higher far above the resistance level of $0.070. The price fell due to the bearish pressure towards the support level of $0.066. Some bearish candles were formed which further reduces the price this week. The price is below 10-day EMA and 50-day EMA. There is a possibility for the coin to move down and test the support level of $0.063 next week. Should bears increase their pressure, the support level of $0.064 may not hold and it may be exposed to another support levels of $0.063 and $0.061.
There is probability that the price might go down within the next several trading days, by making a break down towards the south, as the relative strength index Period 14 on the daily chart is at the level of 35 with the signal lines pointing towards the south, indicating that there could be a further bearish movement.
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TRX/USD Price Medium-term Trend: Bearish, Tamadoge Targeting Higher Level
TRX/USD is bearish on the medium term. The coin was on the ranging movement last week. It was ranging within $0.070 and $0 069 levels. The sellers exerted more pressure and the support level of $0.069 was broken downside. The price penetrates $0.066 and tests the $0.064 level. Further bearish movement is possible.
In case more sellers come in this week there is a probability that the price will experience downtrend movement towards the support level of $0.063 as the relative strength index Period 14 is at 27, with the signal lines directed towards the south. A radical fundamental event can forcefully bring about a significant rally in the market.
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