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TRON Price Analysis: TRX/USD found support ahead of psychological 0.0200 level

  • TRON is trading 3.64% lower in a red day for most cryptocurrencies.
  • The price has now consolidated on the intraday charts and a breakout could indicate the future direction.
TRON Price Analysis: TRX/USD found support ahead of psychological 0.0200 level
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

TRX/USD 30-Minute Chart

As you can see from the chart below the price has consolidated between the two red areas.

The main support zone is still the 0.0200 psychological level and the resistance is at 0.02281.

The volume has been pretty light as the US are off today for Presidents day.

There has just been a large amount of selling volume on the 30-minute candle at the time of writing.

Let's see if this will give us clues for a downside break. 

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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