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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.

More from Rajarshi Mitra
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