Tron Price Prediction – Will TRX Break Through the $0.032 Area of Resistance?

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TRX 1
TRX 1
Tron (TRX) 6-Hour Chart

A look at the 6-hour chart for TRX shows that price touched the $0.030-$0.032 area of resistance before retracing a small amount.

Price is currently trading at $0.00298.

The RSI is at 75, indicating overbought conditions, but there are no signs of bearish divergence yet.

Similarly, the MACD rejected a bearish cross and is moving upward with significant strength, not showing any signs of divergence.

Furthermore, the price is following a steadily increasing support line.

TRX 2
Tron (TRX) 2-Hour Chart

A look at the 2-hour chart shows the first signs of weakness.

The RSI has developed a small amount of bearish divergence, and the MACD has lost most of its power; however, it is not negative yet.

It is worth keeping an eye on whether the MACD makes a bearish cross or rejects it.

TRX 3
Tron (TRX) 1-Hour Chart

A look at the 1-hour chart shows an even more pronounced bearish divergence in the RSI, which preceded the drop in price from $0.031.

Furthermore, the MACD has made a bearish cross.

However, it looks like it wants to steady itself and maybe get ready for another run.

TRX 4
Tron (TRX) 30-Minute Chart

A look at the 30-minute chart shows an even more pronounced bearish divergence.

However, the MACD rejected a move to negative territory, and it is showing signs that it wants to increase and get ready for another run.

Tron Price Prediction:

I believe that price will touch the $0.032 resistance before retracing to the support line at $0.027.

Conclusions:

  • Price is following a steadily increasing support line.
  • There is a bearish divergence in short-term timeframes.

Tron Price Prediction – Will TRX Break Through the $0.032 Area of Resistance? was originally found on copy trading cryptocurrency | Blockchain News | Bitcoin News | blokt.com.