- Tron coin price after testing 50-DMA rebound sharply, while following by rising channel pattern
- The volume continues to be lower as it falls below the average line creating divergence with the price
- The pair of TRX/BTC standing above major moving averages at0.000002278 BTC with an intraday gain of +1.97%
After sharp profit-taking, the Tron coin price over the monthly chart rebound successfully. In contrast, the coin recovers after testing the 50-DMA, which is acting as medium-term support. However, the overall trend is still bullish, as the price is successfully trading above all significant moving averages of 20, 50, 100, and 200-Day. Meanwhile, support on the lower side is $0.1150 and $0.1000, respectively, whereas resistance on the higher side is $0.1390 and $0.1800. Since TRX is trading inside the rising channel pattern and the breakout or breakdown will create a strong momentum.
Tron coin price over the weekly chart has traded in the rising channel pattern creating the bullish momentum. Whereas the technical indicators favor bulls, somehow the volume seems lower, which is not supportive. Likewise, support for the short term is $0.1250 and $0.1175, whereas resistance at the higher side is $0.1375 and $1430. Currently, the coin is trading at the price level of $0.1323 with an intraday gain of +3.86%. In contrast, the volume jumped with a significant growth of +21.86%, standing at $2,298,828,646.
Relative Strength Index (NEUTRAL) indicates neutral momentum while trading at 57.62. However, it is continuously trading near the overbought zone, and soon profit-taking is expected if the pattern breaks.
Moving Average Convergence Divergence (NEUTRAL) currently indicates a mixed trend daily. The buyer’s signal line (green) and the seller’s line (red) overlap each other.
Support levels: $0.1150 and $0.1000
Resistance levels: $0.1390 and $0.1800.