A naukri.com initiative
Cryptoticker
1M
349
Image Credit: Cryptoticker
TRON Price Prediction: Next Stop $0.25 or $0.30?
- TRON (TRX) price is correcting after nearing the $0.30 mark, currently trading at around $0.273 hourly and $0.271 daily, hinting at a loss of bullish momentum.
- The correction follows price rejection near resistance levels and a drop below short-term moving averages, raising questions about a deeper decline.
- The 1-hour chart shows TRX facing strong resistance near $0.278–$0.282 from SMAs, hindering significant upside movements.
- A bounce attempt near $0.265 support lacked strong volume, indicating a potential dead cat bounce unless TRX surpasses $0.278.
- On the daily chart, TRX encountered rejection at $0.295–$0.300 resistance, with the current price testing the 50-day SMA at $0.266.
- Breaking below the 50-day SMA could lead TRX towards $0.250, while regaining $0.280 might uphold the uptrend structure.
- TRX has corrected about 6.5% from $0.29 to $0.271, a level similar to past pullbacks, suggesting a stabilizing point or a further dip to $0.250.
- A breakout above $0.278 could target $0.285 and $0.295, while dropping below $0.265 might test $0.250 as the next support level.
- Traders are advised to monitor the $0.265–$0.280 range closely for a breakout confirmation, as TRON price seems to enter a consolidation phase post a heated rally.
- The next 48 hours could reveal a clearer price direction for TRON amidst the current technical setup.
Read Full Article
21 Likes
For uninterrupted reading, download the app