Tron Price Analysis: TRX/USD creeps back above the $0.02-line
- TRX/USD bulls re-entered the market following a heavily bearish Tuesday.
- The MACD shows that market momentum has reversed from bullish to bearish.
TRX/USD daily chart
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TRX/USD bulls re-entered the market following a heavily bearish Tuesday. The price has gone up from $0.0199 to $0.0203. In the process, the price has crept back into the upward channel formation. The Moving Average Convergence/Divergence (MACD) shows that market momentum has reversed from bullish to bearish.
TRX/USD has two strong resistance levels at $0.0205 and $0.0215. On the downside, we have four healthy support levels at $0.0198, $0.0197 (SMA 20), $0.0192 and $0.0182 (SMA 50).
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
