Tron (TRX) Price Analysis – August 18
TRX/USD is currently correcting gains, but it is likely to continue higher towards $0.034
Resistance levels: $0.035, $0.036, 0.037
Support levels: $0.027, $0.026, $0.025
As it appears on the daily chart, TRX/USD remains in an upward movement recording a 2.61% positive change. Similarly, as the technical indicator remains within the overbought region and the bullish movement continues, the next level of resistance lies at the $0.033 and $0.034.
What to Expect from Tron (TRX)
If TRX/USD can touch a $0.034 resistance level, any further bullish movement may push the price to $0.035, $0.036, and $0.037 resistance levels. However, considering a downtrend for the pair, traders need to see a movement below the $0.028 level; any further bearish movement may bring the coin to the supports of $0.027, $0.026, and $0.025 respectively.
As we can see on the daily chart, the trading volume appears high while the RSI (14) is moving above the 85-level, indicating more bullish signals.
TRX/BTC Market: Bulls are Flexing their Muscles
Against Bitcoin, TRX is seen changing hands at 258 SAT. If the bulls can hold the price tight as it is, the next key target price lies above the channel at 280 SAT. Reaching these levels may likely move the market to the 290 SAT and 300 SAT levels. Meanwhile, RSI (14) remains above 60-level within the overbought zone, supporting the bullish trend.
On the contrary, if the bulls failed to push the price to the nearest resistance, the market could resume its bearish trend and the coin may likely see a sharp drop below 240 SAT support level. Breaking this level could further bring the market to the critical support levels of 245 SAT and 235 SAT respectively.