Tron (TRX) Price Analysis – September 13
The sellers are in control of the long-term outlook but the loyal traders of Tron believe the coin has a high prospect of recovery in the future.
Resistance levels: $0.038, $0.040, 0.042
Support levels: $0.023, $0.021, $0.019
TRX/USD has been following a bearish movement since a few days ago, wherein the price fell from $0.035 to $0.029. Today, the price crosses below the 9-day moving average to remain at the lower side. The trading volume decreases as the coin remains in an unstable market, a price surge may likely play out.
What to Expect from Tron (TRX)?
TRX/USD is currently trading at $0.030 within the 9-day and 21-day moving averages after the bears brought the price to the support level of $0.029. However, if the coin continues to follow the bearish movement, it may likely slide below the 9-day MA and push the coin to the support levels of $0.023, $0.031, and $0.019.
However, the technical indicator RSI (14) is moving below 55-level which is to confirm the presence of the bears into the market. Nevertheless, if the bulls could regroup and push the coin above the moving averages to find the nearest resistance at $0.035, they may likely find another resistance level at $0.038, $0.40, and $0.42.
TRX/BTC Market: Price Nosedives to the South
Comparing with BTC, the pair has eventually broken another important support at the 300 SAT. Tron price may likely see another sharp drop at 270 SAT if it moves below the 21-day MA. Breaking this level could further push the market to the nearest support levels at 230 SAT, 210 SAT, and 190 SAT.
However, TRX is currently changing hands at 293 SAT and if the bulls can hold the price from where it is now, the next key targets resistance lies at 330 SAT and 350 SAT respectively. Reaching these levels may likely move the market to the potential resistance at 370 SAT and above. Meanwhile, RSI (14) is moving below 55-level and this may likely give some possible bearish signals in the next few days.