- TRX Price broke out of the major resistance belt and is now headed for the second\
- TRX price to test two fibonacci levels – 61.8%($0.052) and 78.6%($0.057)
Tron price after surpassing 50% resistance along with $0.049 and is headed for the subsequent levels – $0.052 and $0.057. The volume analysis shows a higher concentration of buyers of sellers at the current price levels. However, the current session has low volume suggesting a possibility of consolidation. The market cap and 24-hour volumes are $3,684,236,343 and $1,939,492,229 respectively.
Tron Price Restricted By Upper Bollinger Band
Left Image: Price analysis shows that Tron makes bigger green candles that show a rising strength in the trend. Supports are present along with $0.049 and $0.0459, while resistance is between $0.0529 and $0.057. Strong resistance is at the $0.06-$0.065 zone.
Right Image: Tron price is hovering above 10-EMA($0.048), 20-EMA($0.043), 50-EMA($0.036), and 200-EMA($0.029). Such formation supports bullish momentum.
Bollinger Band is acting as the only resistance for the coin. The upper band restricts the price at $0.051, while the lower band and median(10-EMA) support prices at $0.043 and $0.047. However, to continue the momentum, the Bollinger bands need to widen (increase in volatility).
RSI is at 56 levels, RSI of above 50 shows a bullish trend for the coin and generally continues till 80. However, there is a resistance at 70 levels in this case.
MACD(8,21,5) has given a bullish crossover at 0 levels, which might trigger a strong rally further. The resistance for the indicator at 0.0078.
TRX price has broken a strong resistance and is headed for the second one. Fibonacci levels and upper Bollinger band could be possible resistances. However, there are strong supports below the prices.
Support: $0.049(50% Fibonacci level), $0.048(20-EMA), $0.047(10-EMA), $0.0459(38.23% Fibonacci level) and $0.043(50-EMA)
Resistance: $0.051(Upper BB), $0.0529(61.8% Fibonacci level) and $0.0579(78.6% Fibonacci level)