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.

John Isige FXStreet

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

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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