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TRON Price Analysis: TRX/USD faces bearish correction as price aims for $0.0175–level

  • TRX/USD bears stepped after a bullish Tuesday as price trends below the triangle formation.
  • The MACD shows that market momentum is about to reverse from bullish to bearish.
TRON Price Analysis: TRX/USD faces bearish correction as price aims for $0.0175–level
Rajarshi MitraRajarshi MitraIndependent Analyst

TRX/USD daily chart

TRX/USD daily chart

TRX/USD dropped from $0.0177 to $0.0176 this Wednesday. The is trending below the triangle formation and in the upper half of the 20-day Bollinger Band. The MACD shows that market momentum is about to reverse from bullish to bearish.

Support and Resistance

TRX/USD has strong resistance at $0.0182 and $0.0186. On the downside, healthy support lies at $0.01754, $0.0171 (SMA 20), $0.017 and $0.0167 (SMA 50).


 

Author

Rajarshi Mitra

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.

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