Tron (TRX) Price Analysis – June 14
As long as the sellers continue to release the pressure into the market, traders can expect the TRX/USD to remain in a bearish range.
Resistance levels: $0.019, $0.021, 0.023
Support levels: $0.014, $0.012, $0.010
Looking at the daily chart, TRX/USD plunges from $0.0167 to $0.0164, amounting to a price change of -1.93% a few hours ago. In fact, the technical indicator is also facing the south as the trend is favorable for bears. However, the $0.014, $0.012, and $0.010 support levels could provide support for the market if the selling pressure continues.
Meanwhile, the coin is currently trading at a price level of $0.0163. Now, the price action is eroding bearishly on the daily chart. If $0.0150 can act as a support level, Tron’s price may test the previous resistance again at $0.019, $0.021, and $0.023 respectively. For now, there is no sign of bullish movement. The main support for this market is $0.060 as the RSI (14) is moving around 50-level.
Against Bitcoin, the pair is trading with red candle immediately after the price touched 177 SAT. Presently, the price is trading below the 9-day moving average. So if the bears continue to pump more pressure into the market, TRX/BTC may likely hit the critical supports at 160 SAT and below.
However, the RSI (14) indicator shows that the market may continue to follow the downward trend as the signal line moves below 55-level and this could cause more harm to the bulls. In other words, a reversal might come to play if the key support of 174 SAT could hold the price and there might be a bull-run towards the next resistance levels of 190 SAT and above.
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