Tron (TRX) Price Analysis – June 23
Tron has managed to become a reliable and profitable coin, especially for intraday traders. The daily fluctuations in the prices of the coin have left a lot of space for investors and short-term speculators to establish positions to obtain the maximum benefit.
Resistance levels: $0.045, $0.050, 0.055
Support levels: $0.025, $0.020, $0.015
Looking at the daily chart, the price of Tron (TRX) barely exceeds the resistance levels of $0.040 and $ 0045. The price is now trading near the support level of $0.035 and there is a risk of an increase in losses. But if it stays above $0.038, there could be an additional increase above the $0.040 level.
As prices rise through the channel and the stochastic RSI is already in the overbought zone, buyers can find resistance at around $0.045, $0.50 and $0.55 if they are still moving above the 50-day moving average. On the negative side, sellers have a potential support level of $0.025, $0.020 and $0.015 respectively.
It has been more than two weeks since TRX is in free fall. The decreases approach depletion as the market approaches the end of the corner, a narrow range for a possible break. The price has already fallen to break the 50-day MA, while the RSI stochastic indicator is still trying to recover from the oversold zone.
Below the channel, the bear is likely to find support at a level of 0.0000022BTC. On the channel, the bull can reach a resistance level equal to or greater than 0.0000052BTC. On the RSI 14, the market is above level 40, which indicates that a bullish movement for TRX against the Bitcoin market is more likely to occur.
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