TRON Price Analysis: TRX rejects the 55 EMA and the 0.014 level
|- TRON trades over 3% lower on Tuesday after the moving average proved to be a decent resistance zone.
- The volume has never been the same since the spike lower to 0.00823.
TRX/USD daily chart
TRON has pushed lower after trading higher earlier in the session. The pair hit some resistance at the 55 daily exponential moving average. The price has been some quite some fall since hitting 0.02680 back in mid-February. This moves just looks like a retracement at the moment and until a lower high is created with a higher wave break we can't really call a change in trend.
Looking closer at the technicals, the volume has also not hit the heights seen on March 13th then price it its lowest level on the chart. The RSI is above 50 which is positive and the price has moved back above the important resistance zone of 0.01250. One thing is for sure this could still just be a deep retracement and we need more information before calling a change in trend.
 (2)-637218891395956131.png){kind=link}
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.