Tron (TRX) Price Analysis – May 19
The TRX/USD pair is maintaining an uptrend as the bulls come together to increase buying pressure in the market.
Resistance levels: $0.018, $0.019, 0.020
Support levels: $0.013, $0.012, $0.011
As it appears on the daily chart, Tron (TRX) remains in an upward movement recording a 1.42% positive change. Similarly, as the bullish movement continues, the next level of resistance lies at the $0.018 and $0.019. Further rise above this price levels may push the price to $0.020 resistance.
However, considering a downtrend for TRX/USD pair, traders need to see a movement below the 9-day and 21-day moving averages that could bring the coin below the channel to hit the support levels of $0.013, $0.012, and $0.01; as the daily chart reveals that the trading volume appears low while the RSI (14) is making an attempt to move above 55-level.
Against Bitcoin, TRX is currently changing hands at 159 SAT and if the bulls can hold the price tight as it is, the next key target price lies at 175 SAT and 180 SAT respectively. Reaching these levels may likely move the market to the 185 SAT level. Meanwhile, RSI (14) has been moving sideways for the past few days, making the market to be indecisive for now.
As it is, if the bulls failed to push the price above the moving averages, the market could continue its bearish trend and TRX/BTC may likely see another sharp drop crossing below the channel at 152 SAT support level. Breaking this level could further bring the market to the nearest support levels at 143 SAT and below.
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