Tron (TRX/USD) Is Reaching the $0.07 Resistance Price Level
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Tron traders are bearishly biased at the $0.675 price level; this is the reason behind the strong resistance around $0.0675, which has continued to peg the progress of the bull market. However, the bulls are trying to break this limit. With a strong support level at $0.065, they are also limiting the progress of the bear market and setting a target at the $0.07 price level. The key support level is increasing the chance for a bullish price breakout.
TRON/USD Price Statistics
- TRX/USD Price Now: $0.0686
- TRX/USD Market Cap: $6,202,190,004
- TRX/USD Circulating Supply: 90,610,845,556 TRX
- TRX/USD Total Supply: 90,610,915,570
- TRX/USD CoinMarketCap Ranking: #13
Key Levels
- Resistance: $0.07, $0.075, and $0.08.
- Support: $0.057, $0.050, and $0.045
Price Prediction for Tron: The Indicators’ Point of View
The struggle for market dominance seems to be entering a deadlock. However, the bulls have the upper hand. The bulls are pressing very hard for a breakout as they set the target at $0.07. The bearish sentiment around the key resistance level is very strong and the bullish price of today’s trading session is continuously being trimmed to the level of the resistance price. However, the bulls are relentless and it seems like there is finally going to be a breakout. The Bollinger Bands indicator points to increasing volatility as the bands diverge. But because the price actions have currently shot out beyond the upper band, there is a growing concern that the bullish price may soon rebound to a lower level.
TRON/USD 4-Hour Chart Outlook:
Near the key resistance level, the struggle for the price is significantly intensifying. The tug-of-war between buyers and sellers prevents the movement of the market. The only advantage the buyers are currently having is that they have taken the struggle to the edge of the supply zone. This gives the impression that the bulls are stronger than the sellers and that the barriers will soon be broken.
