Tron Price Analysis: TRX/USD defends $0140 support for the second time
|- Tron refreshes the support at $0.014 for the second time in November.
- Recovery continues to be hampered but sideways trading is ready to take precedence.
Tron has been disintegrating since the highs formed in November at $0.0230. The buyers tried to nurse initial losses in a range between $0.0180 and $0.0200 but failed. The losses continue sharply under $0.014 before finding support marginally above $0.0130.
Meanwhile, TRX/USD is teetering at $0.0141 after bouncing off the short-term support at $0.0140. The 50 SMA caps the upside at $0.0146 ahead of additional resistance at the 100 SMA holding ground at $0.0150.
The Relative Strength Index (RSI) avoided the oversold. If the indicator climbs towards the average, TRX could eventually break the descending triangle resistance and forge an extended trajectory towards $0.0200.
TRX/USD 4-hour chart
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.