TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

TRX/USD Technical Analysis: TRON meets resistance at an internal trendline

  • TRON is trading 4.5% higher on the session as crypto sentiment improved on Wednesday.
  • The price is now stuck at the internal trendline highlighted on the chart.
TRX/USD Technical Analysis: TRON meets resistance at an internal trendline
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

TRX/USD Daily Chart

The TRX/USD price structure was more bullish than most of the other cryptocurrencies during the fall on 22nd November.

Now it seems that the price has run into some trouble at the internal trendline which originated in late September on the chart below.

The line connects the two higher lows after the September 24th low of 0.01174 bottom.

If the daily candle closes above the next resistance could be the target on the way up at 0.01850.

On the intraday 4-hour chart you can see the price made a similar inverse head and shoulders pattern much like Bitcoin and Bitcoin Cash.

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.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

Ripple slides to $1.45 as downside risks surge

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin edges lower on Tuesday, extending consolidation in a trading range for over ten days. Market conditions remain defensive, with sustainable recovery depending on renewed spot demand, report says.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme coins, including Dogecoin, Shiba Inu, and Pepe, are under pressure on Tuesday, extending Sunday’s decline. The derivatives data show substantial outflows from DOGE, SHIB, and PEPE futures Open Interest, primarily driven by long-side-skewed liquidations. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.