Key Highlights
- TRX price faces resistance at the $0.021 demand zone
- The market is ranging above the $0.020 price level after failing to make an upward move
- Tron (TRX)’s price is likely to continue its range bound move above the $0.020 price if it fails to break its initial resistance at the $0.021 price level
TRON Current Statistics
The current price: $0.020
Market Capitalization: $1,364,620,010
Trading Volume: $433,387,927
Major supply zones: $0.025, $0.030, $0.035
Major demand zones: $0.015, $0.010, $0.005
TRON Price Analysis August 13, 2019
The bulls failed to make an upward move as they were resisted at the $0.021 price level. The price fell to the $0.020 demand zone to commence a range-bound movement. The price of TRON has two hurdles to overcome. The good thing is if the TRX bulls break the $0.021 and the $0.022 price levels, the market will be in the bullish trend zone. The crypto’s price will also rise and reach the supply zones of $0.025 and $0.030 price levels.
Chart Indicators Reading
Both the signal and MACD line are below the zero line, which indicates that the price of TRON is still bearish. The crypto’s price is below both the 12-day and 26-day EMA, which signals that price may likely fall even further. The bulls are making an upward move, and if price breaks above the trend line and closed above it, the crypto’s price is likely to continue its upward progress.
General Outlook for TRX
The price of TRON is likely to remain bearish because of the signals of the current indicators. The MACD line and the signal line are far away below the zero line, which indicates a bearish signal. The crypto’s price is below the Exponential Moving Averages after falling from the $0.021 price level, which suggests a sell signal.
So, the price fell, and it is now ranging above the $0.020 price level. Concerning the drawback, in case the bears break below the $0.020 price level, Tron market will revisit the $0.019 price level. On the other hand, if the price of TRX rises, it will retest the $0.021 price level.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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