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TRON Price Analysis: TRX/USD consolidates below 0.020

  • TRON is trading almost 5% lower in another poor session for cryptocurrencies.
  • The chart has now moved into a downward structure and looks to be heading toward a support level.
TRON Price Analysis: TRX/USD consolidates below 0.020
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

TRX/USD 4-Hour Chart

TRON seems to be forming a classic downtrend at the moment. 

On the higher timeframes it could look like a deep retracement. 

On the 4-Hour chart below, the price has recently printed just below the previous wave low.

Now the next support could be 0.01818 and resistance is at the 0.020 level.

TRON Analysis

 

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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