Tron Price Analysis – July 7
The Tron price is seen rallying towards the resistance level of $0.070 riding on positive technical levels.
Resistance levels: $0.075, $0.080, 0.085
Support levels: $0.055, $0.050, $0.045
TRX/USD is currently trading above the 21-day moving average as the market price follows the sideways movement. This means that gains above $0.070 may likely play out if the bulls push the coin above the upper boundary of the channel in the coming days. However, the bullish trend is emphasized by the technical indicator as the Relative Strength Index (14) is seen moving above 45-level.
Tron Price Analysis: TRX Price Follow Bullish Trend
If the Tron price crosses above the 9-day and 21-day moving averages, the technical indicator Relative Strength Index (14) is not only moving around 45-level but may also be nurturing a bullish divergence which means that the bulls could easily push the Tron price above $0.070. However, more resistance levels may be found at $0.075, $0.080, and $0.085 respectively.
As the daily chart reveals, TRX/USD started moving sideways for the past two months. Therefore, if losses become nerve-shattering, TRX could seek support at $0.050, falling below the 9-day and 21-day moving averages could hit the critical supports at $0.055, $0.050, and $0.045.
TRX/BTC Market: Price Remains at the Downside
When compares with Bitcoin, the Tron price is seen hovering within the 9-day and 21-day moving averages and could hit the important support at the 185 SAT. Moreover, the Tron price may likely see another sharp drop after crossing below the 9-day and 21-day moving averages. Breaking this level could further drag the market to the nearest support levels at 180 SAT, 175 SAT, and 170 SAT.
However, TRX is currently changing hands at 189 SAT and if the bulls can hold the price from where it is now, the next key targets resistance could be located at 190 SAT and 195 SAT respectively. Reaching these levels may likely move the Tron price to hit the potential resistance at 200 SAT and above. Meanwhile, the technical indicator Relative Strength Index (14) is lying flat below 50-level.