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Tron Technical Analysis: TRX/USD plummets below $0.025

Tron Technical Analysis: TRX/USD plummets below $0.025
Rajarshi MitraRajarshi MitraIndependent Analyst

TRX/USD daily chart

ETC/USD daily confliencec etedors

TRX/USD bears took full charge of the market as the price plummeted from $0.0274 to $0.0242, dropping below the $0.025-level, in the process. The MACD shows that market momentum has reversed from bullish to bearish.

The sellers now face support levels at $0.0233 (SMA 20), $0.0214 and $0.0201 (SMA 50). On the upside, we have strong resistance levels at $0.0265 and $0.0304.

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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