Tron Price Analysis – June 25
Tron price action is presently trading sideways and may extend above the resistance level of $0.070 price level.
Resistance levels: $0.080, $0.085, 0.090
Support levels: $0.055, $0.050, $0.045
TRX/USD opens the day around the $0.065 level but has since moved to a lower level where it touches the $0.064 support but currently trading at $0.065. However, the Tron price is currently trading within the 9-day and 21-day moving averages as it is down by 0.11% at the time of writing.
Tron Price Analysis: Tron May Head to the North
The Tron price is likely to cross above the resistance level of $0.070 by crossing above the 21-day moving average. At the moment, TRX/USD is seen following a sideways movement. The coin may consolidate losses within the channel as the Relative Strength Index (14) stays above 40-level.
However, if TRX/USD fails to cross above the daily high of $0.070, there is a possibility of further decline where the next critical supports could be found at $0.055, $0.050, and $0.045. But if the bulls could manage to push the Tron price above the 21-day MA, the crypto could hit the resistance levels at $0.080, $0.085, and $0.090.
TRX/BTC Market: Price Consolidating to the Upside
Against Bitcoin, the Tron price is heading to the south at the time of writing. The price action remains below the 9-day moving average as the Tron (TRX) may create a new low in the coming days. As of now, the technical indicator Relative Strength Index (14) is moving below the 60-level, which indicates that traders may continue to see a negative move in the market.
According to the daily chart, if the 9-day MA crosses below the 21-day MA, this implies that traders should expect more downtrends, and the critical support is located at 265 SAT and below. Moreover, if the bulls steal the show and push the market price towards the upper boundary of the channel; the market may experience an upward movement, and the closest resistance could be found at 350 SAT and above.