Tron Price Analysis – March 31
The Tron price is at the time of writing heading to the north as the bulls are coming together to increase the buying pressure within the market.
Resistance levels: $0.085, $0.090, 0.955
Support levels: $0.065, $0.060, $0.055
At the time of writing, TRX/USD keeps moving in an upward movement with a 2.68% gain. However, as the bullish movement continues, the next level of resistance could be located above the upper boundary of the channel as further bullish movement may locate the resistance levels of $0.085, $0.090, and $0.095 respectively.
Tron Price Analysis: Tron (TRX) May Shoot to the Upside
Looking at the daily chart, the market price remains far above the 9-day and 21-day moving averages crossing above the upper boundary of the channel. However, considering a downtrend for TRX/USD, traders may need to see a movement below the 9-day moving average that could bring the coin towards the lower boundary of the channel to hit the support levels of $0.065, $0.060, and $0.055.
Meanwhile, the daily chart reveals that the trading volume appears to come high while the technical indicator Relative Strength Index (14) is flying high within the overbought region which is suggesting more bullish signals in the market.
TRX/BTC Market: Tron Price Faces the Upside
Against Bitcoin, TRX is currently changing hands at 166 SAT and if the bulls can push the price above the upper boundary of the channel, the next key target price could be located at the resistance level of 175 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) is seen crossing above the 60-level, making the market to be at an upward trend for now.
Furthermore, if the bulls failed to push the price above the upper boundary of the channel, the market could begin a downtrend and TRX/BTC may likely see a sharp drop below the 9-day and 21-day moving averages. However, breaking this barrier could further drag the market price to the nearest support level at 150 SAT and below.