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Tron Technical Analysis: TRX/USD aims for $0.02-level after a hattrick of bullish days

  • The bulls stayed in control for three straight days after bouncing up from the $0.1857 support level.
  • TRX/USD is trending above the 20-day Bollinger Band.
Tron Technical Analysis: TRX/USD aims for $0.02-level after a hattrick of bullish days
Rajarshi MitraRajarshi MitraIndependent Analyst

TRX/USD daily chart

TRX/USD daily chart

TRX/USD went up from $0.0192 to $0.01956 as the buyers aim for the $0.02 psychological level. The bulls have stayed in control for the third straight day after bouncing up from the $0.01857 support level. TRX/USD has jumped above the 20-day Bollinger Band, showing that it’s presently overvalued and may face short-term bearish correction. The MACD shows increasing bullish market momentum. TRX/USD currently has three healthy support levels at $0.01857, $0.0182 and $0.018 (SMA 20).

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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