Tron (TRX) Price Analysis – May 9
Tron (TRX) is on the recovery spree as the market is quite fluctuating at the moment.
Resistance levels: $0.019, $0.020, 0.021
Support levels: $0.013, $0.012, $0.011
TRX/USD is moving up a little bit as seen on the daily chart. The coin took a leap after having 2 days consecutive bullish trend two days ago and started dealing at $0.0163 at the time of writing. The coin began an upward movement a couple of days ago where it moved from $0.0155 and continued until today that it gives a surprising upsurge in the market by touching $0.0169 in the early hours of today.
The coin later slumped to the low of $0.0157 but currently moving in sideways within the channel. However, in the scenario where it maintains the upward movement above the 9-day and 21-day moving averages, the buyers may likely find the resistance levels at $0.019, $0.020, and $0.021. Conversely, the sellers may have critical supports at $0.013, $0.012, and $0.011 as the RSI (14) moves around 62-level to support the bullish movement.
Against Bitcoin, Tron (TRX) is seen trading below the 9-day and 21-day moving averages within the channel. As the trading volume is low, if the selling pressure continues, the TRX price variation may likely continue the downtrend. For now, the RSI (14) is moving above 40-level as the coin begins a new trend.
However, TRX/BTC is currently hovering at the 168 SAT. We can expect close support at the 150 SAT before breaking to 145 SAT and critically 140 SAT. More so, if the coin continues to move and validates a break above the moving averages; traders can then confirm a bull-run for the market and the closest resistance levels lie at 185 SAT, 190 SAT, and 195 SAT.
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