Tron (TRX) Price Analysis: Bears In Control Below $0.0320

Tron (TRX) Price Analysis: Bears In Control Below <img width=.0320" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0320"1828" height="868" src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0320" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Tron price failed to gain strength above $0.0355 and declined recently against the US Dollar.
  • TRX price is now trading well below the $0.0320 support level, with a bearish angle.
  • There is a key connecting bearish trend line forming with resistance near $0.0332 on the 4-hours chart (data feed via Bitfinex).
  • The price remains at a risk of more losses below the $0.0300 and $0.0291 support levels.

TRON price is currently under a lot of selling pressure against the US Dollar, but stable vs bitcoin. TRX price could accelerate losses if there is a break below the $0.0290 level.

Tron Price Analysis

This past week, TRON price started a fresh increase from the $0.0302 low against the US Dollar. The TRX/USD pair climbed above the $0.0320 and $0.0340 resistance levels. It even spiked above the $0.0350 level. However, the price struggled to climb above $0.0355 and the previous bullish trend line. Moreover, the price remained below the $0.0380 resistance and the 55 simple moving average (4-hours).

As a result, there was a fresh decline from the $0.0355 swing high. The price declined below the $0.0340 support and the 50% Fibonacci retracement level of the last wave from the $0.0302 low $0.0355 high. It is now trading well below the $0.0320 support level. Besides, it is now below the 76.4% Fibonacci retracement level of the last wave from the $0.0302 low $0.0355 high.

Therefore, there is a risk of more losses below the $0.0300 support. The key supports are near $0.0291, below which the price could accelerate losses. The 1.236 Fib extension level of the last wave from the $0.0302 low $0.0355 high is also near the $0.0289 level. If there are more losses, the price could slide towards the $0.0275 level.

On the upside, there are many resistances near the $0.0320 and $0.0330 levels. There is also a key connecting bearish trend line forming with resistance near $0.0332 on the 4-hours chart. A successful close above the trend line might push the price towards the $0.0355 resistance plus the 55 simple moving average (4-hours).

Tron (TRX) Price Analysis: Bears In Control Below <img class=.0320"alignnone size-large wp-image-54765 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1100x522.png?resize=1100%2C522&ssl=1" alt="Tron Price Analysis TRX Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0320" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that TRX price is trading with a bearish angle below the $0.0320 support. If the bears remain in action, there are chances of more losses below the $0.0291 and $0.0290 levels. Conversely, the price may perhaps find strong bids near the $0.0291 level. In the mentioned case, it could correct higher towards $0.0332.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is gaining pace in the bearish zone.

4 hours RSI – The RSI for TRX/USD is currently below the 40 level, with a bearish angle.

Key Support Levels – $0.0300 and $0.0291.

Key Resistance Levels – $0.0320, $0.0330 and $0.0332.

The post Tron (TRX) Price Analysis: Bears In Control Below $0.0320 appeared first on Live Bitcoin News.



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