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Tron (TRX)

Daily (TRX) Value Forecast – July 11


  • The bulls have been contesting to break the $0.0380 overhead resistance.
  • On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $0.0380 overhead resistance.

TRX /USD Medium-term Trend: Bearish

  • Resistance Levels: $0.0340, $0.0360, $0.0380
  • Support Levels: $0.0280, $0.0260, $0.0280

On June 10, the price of TRON was in a bearish trend as it was resisted at the $0.0360 price level. The downward trend continued to a low of $0.02800 price level. This level was the previous low of May 2019. If the $0.002800 support level holds the crypto’s price is likely to rise. The bulls have been contesting to break the $0.0380 overhead resistance.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $0.0380 overhead resistance. However, if the $0.002800 support level is broken, the price of TRON will depreciate to a low at $0.002400 price level. Meanwhile, the price of TRON is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in a bullish momentum and buy signal.

TRX/USD Short-term Trend: Bullish

On the 1-hour chart, the price of TRON is in a bullish trend zone. The 12-day EMA and 26-day EMA are trending upwards. On July 11, the price of TRON fell to the support level of $0.002800 and the price level was holding as the bulls broke above the EMAs.
Meanwhile, the price of TRON is in the overbought region of the daily stochastic but above the 80% range. This indicates that price is in a bullish momentum and buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.





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