TRON Price Prediction: How Long Will TRX Continue the Rally?

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TRX 3

Long-Term Outlook

TRX
Tron (TRX) Weekly Chart

A look at the Weekly chart for TRX shows that price is following a descending support line.

After bouncing in December, the price has moved past the 7-period moving average and is now headed for the $0.033 resistance area which coincides with the 21-period MA.

Furthermore, the MACD is moving upward with significant strength and has almost turned positive. Price is currently trading at $0.029

Medium-Term Outlook

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Tron (TRX) 3-Day Chart

A look at the 3-day chart supports the findings in the weekly chart.

Price is very close to the $0.033 area of resistance, which coincides with the 50-period moving average and the Ichimoku Cloud.

However, the price is trading above the 7 and 21 period MAs which are very close to making a bullish cross, and the MACD is going up with significant strength.

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Tron (TRX) Daily Chart

A look at the daily chart gives us conflicting signs.

Firstly, the price has moved past all the moving averages which have made a number of bullish crosses and the Ichimoku cloud.

Furthermore, the projected cloud is positive for all of February.

However, there is very significant divergence currently developing in the RSI.

Short-Term Outlook and Price Prediction

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Tron (TRX) 6-Hour Chart

Finally, a look at the 6-hour chart for TRX shows that price is moving up while following a steady support line.

There is no bearish divergence in the RSI nor MACD, and both are moving up.

Price Prediction: Given this information, I believe that in the short-term price will head to the $0.032 resistance after a possible retrace to the support line.

Conclusions

  • Price is close to a significant resistance area.
  • There is a bearish divergence in the medium-term.
  • Long-term indicators are leaning on turning bullish.

TRON Price Prediction: How Long Will TRX Continue the Rally? was originally found on copy trading cryptocurrency | Blockchain News | Bitcoin News | blokt.com.