Tron (TRX) Price Analysis – November 25
The TRX/USD pair is maintaining a downtrend as the bears come together to increase selling pressure in the market.
Resistance levels: $0.017, $0.018, 0.019
Support levels: $0.011, $0.010, $0.009
Tron (TRX) is fluctuating in the bearish zone, which might be a little concern as of now. The main question is when will TRX slide to the profit zone? It seems that traders might have to bear some patience to enjoy some returns in the Tron network. Meanwhile, they might want to work upon avoiding any losses if the value is dropped every day.
However, the TRX/USD pair is maintaining a downtrend as the bears are preparing for more selling pressure. Looking at the daily chart, the market is consolidating and the potential supports lie at $0.011, $0.010 and $0.009 levels. However, if the bull could step back into the market and maintain its upward movement, a trend reversal may resurface and push the price to the resistance levels at $0.017, $0.018 and $0.019. The RSI (14) is recovering from the oversold zone, which may likely give some bullish signals.
Against Bitcoin, TRX is currently changing hands at 200 SAT and if the bulls can hold the price tight as it is, the next key target price lies at 215 SAT and 225 SAT respectively. Reaching these levels may likely move the market to 235 SAT. Meanwhile, RSI (14) moves above level 40 and may move in sideways for the next few days.
However, if the bulls failed to push the price to the potential resistance, the market could resume its bearish trend. More so, Tron price may likely see a sharp drop below the descending channel at 190 SAT support level as it moves below the 9-day and 21-day moving averages. Breaking this level could further push the market to the nearest support levels at 185 SAT, 175 SAT, and 165 SAT respectively.
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