Tron (TRX) Price Analysis – December 1
Looking at the daily chart, the Tron price is likely to rally towards the north as the coin could ride on positive technical levels.
TRX/USD Market
Key Levels:
Resistance levels: $0.110, $0.115, 0.120
Support levels: $0.090, $0.085, $0.080
TRX/USD is currently moving below the 9-day and 21-day moving averages as the coin keeps moving sideways. This means that any gain above the 9-day and 21-day moving averages may likely keep the coin at the positive side. The bullish trend is likely to play out if the Relative Strength Index (14) and the 9-day and 21-day moving averages confirm the uptrend.
Tron (TRX) Price Analysis: Tron (TRX) May Keep Moving Sideways
As the Tron (TRX) remains below the 9-day and 21-day moving averages, the technical indicator Relative Strength Index (14) is not only moving in the same direction but also likely to cross below 40-level. However, the technical indicators if coupled with proper trading volume could easily drag the Tron price above $0.105. More resistance levels may be found at $0.110, $0.115, and $0.120 respectively.
On the downside, TRX/USD is supplied with numerous support levels should in case losses come into the picture. If losses become heavier, TRX could seek support at $0.095, and crossing below the lower boundary of the channel may locate supports at $0.090, $0.085, and $0.080.
TRX/BTC Market: Tron Price Stays at the Negative Side
Against Bitcoin, Tron (TRX) is trading below the 9-day and 21-day moving averages as the price keeps moving within the channel. However, as the trading volume remains active, the selling pressure may resume back and the Tron price may likely begin another downtrend. The daily chart reveals that the technical indicator Relative Strength Index (14) is moving above 45-level but the price movement may likely slide below this level if the bears step back into the market.
However, TRX/BTC is trading around the 169 SAT. Traders can expect a close resistance above the moving averages before breaking to 185 SAT and potentially 195 SAT levels. In other words, if the technical indicator RSI (14) drops below 40-level; traders can confirm a downtrend for the market and the closest support level could be at 160 SAT and below.
