Tron (TRX) Price Analysis – November 10
Tron (TRX) could not stay at the same level for a long time and was under market pressure early in the third quarter.
Resistance levels: $0.022, $0.023, 0.024
Support levels: $0.016, $0.014, $0.012
Tron (TRX) is showing a sign of strength as the market records a price gain of $2.95%. A few days ago, TRX/USD was extremely bearish, wherein the price fell from $0.020 to $0.018. Today, the price has gone to $0.019 where it is currently trading. The daily price is now trending with the 9-day and 21-day moving averages as the trading volume decreases. While TRX remains in an unstable market, a price surge is more likely to play out.
However, for an upsurge, the Tron price may meet the nearest resistances at $0.022, $0.024 and $0.026 before we can consider more levels for the trade. A down surge, however, could plummet the market to $0.016, $0.014 and $0.012 supports after a possible break at $0.018. The RSI (14) has maintained trading in sideways and moving below the 60-level, showing an indecisive movement.
Comparing with BTC, Tron (TRX) is still trading on the downside and bulls are making an attempt to step back into the market. Tron price may likely see another sharp drop at 200 SAT support level if it moves below the 9-day moving average. Breaking this level could further push the market to the nearest support levels at 193 SAT and below.
However, TRX is currently changing hands at 215 SAT and if the bulls can hold the price tight as it is, the next key target price lies at 240 SAT and 250 SAT respectively. Reaching these levels may likely move the market to another resistance level of 260 SAT. Meanwhile, RSI (14) has been in sideways and moving under the 60-level, showing an indecisive movement.
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