Lorenzo Stroe
Independent Analyst
- TRON has established a new 2020-high at $0.03 and it’s now facing a resistance level from July 2019.
- The next resistance level is the two-year high is located at $0.04.
Tron is currently trading at $$0.0306 with a lot of bullish momentum behind it. Bears are struggling to find anything after an entire week of gains for Tron. The increase in trading volume has been significant but many indicators are now heavily overextended.
TRX/USD daily chart
-637332806011453662.png)
The daily RSI is clearly overextended but FOMO is far stronger. The next clear resistance level is right here at $0.0306, established in July 2019. Besides that, Tron is not really facing a lot of opposition until $0.04.
TRX/USD 4-hour chart
-637332806311337356.png)
The 4-hour chart is healthier although the RSI is also in the overbought zone. Bulls have been defending the 12-EMA throughout the rally.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.
Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook
Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.
Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing
Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.
200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?
Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.
Bitcoin: BTC consolidates before a big move
Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.
The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.