Tron (TRX) Price Analysis: More Downsides Possible Towards $...
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Tron (TRX) Price Analysis: More Downsides Possible Towards $0.022


  • Tron price failed to stay above the key $0.0320 and $0.0300 support levels against the US Dollar.
  • TRX price is now trading below the $0.0285 support and the 55 simple moving average (4-hours).
  • There was a break below a declining channel with support near $0.0276 on the 4-hours chart (data feed via Bitfinex).
  • The pair is likely to continue lower towards the $0.0225 support zone in the near term.

TRON price failed to hold gains and declined steadily against the US Dollar and bitcoin. TRX price is showing bearish signs below the $0.0300 and $0.0285 support levels.

Tron Price Analysis

After struggling to gain pace above $0.0360, TRON price started a steady decline against the US Dollar. TRX price broke many supports near the $0.0320 and $0.0300 levels to move into a bearish zone.

There was also a close below $0.0300 and the 55 simple moving average (4-hours). More importantly, there was a break below a declining channel with support near $0.0276 on the 4-hours chart. The pair even broke the key $0.0285 support and the last swing low at $0.0276.

The next major support is near the $.0258 level. It is close to the 1.236 Fib extension level of the key move from the $0.0276 swing low to $0.0359 high. If the bears remain in action, there are chances of more losses below $0.0258.

The next major support is near the $0.0225 pivot level. It coincides with the 1.618 Fib extension level of the key move from the $0.0276 swing low to $0.0359 high. Any further losses may perhaps lead tron price towards the $0.0200 support zone.

On the upside, the price is likely to face hurdles near the $0.0285 level (the recent breakdown zone). The next major resistance is near the $0.0300 level and the channel upper trend line.

If tron price clears the $0.0285 and $0.0300 resistance levels, there are chances of a decent recovery wave. In the stated case, the bulls are likely to aim a test of the $0.0320 resistance zone or the 55 simple moving average (4-hours).

Tron (TRX) Price

The chart indicates that TRX price is clearly facing an increase in selling pressure below $0.0300 and $0.0285. Overall, the price is likely to continue lower towards the $0.0225 support zone in the near term.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is now gaining strength in the bearish zone.

4 hours RSI – The RSI for TRX/USD is currently declining and it is in the oversold zone.

Key Support Levels – $0.0258 and $0.0225.

Key Resistance Levels – $0.0285, $0.0300 and $0.0320.

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Born in Bucharest, Marius is the founder of Crypto Adventure and Co-founder of Crypto Press. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.