• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Opinion / Market Analysis / TRON (TRX) Price Falls after Testing the Bullish Trend Zone
Tron

TRON (TRX) Price Falls after Testing the Bullish Trend Zone

August 26, 2019 by Azeez Mustapha

Key Highlights

  •  TRX price made an upward move but faced resistance at the $0.0185 demand zone
  •  The bearish impulse on August 14, compelled the market to fluctuate between the $0.0165 and $0.0185 demand zones
  • The market is likely to move up if the bulls break the $0.0185 resistance zone

 TRON(TRX) Current Statistics

The current price: $0.017

Market Capitalization: $1,182,373,256

Trading Volume: $508,461,245

Major supply zones: $0.025, $0.030, $0.035

Major demand zones: $0.015, $0.010, $0.005

TRON Price Analysis August 26, 2019

On August 21, the coin fell to the low of $0.0165 demand zone and commenced a bullish move. The upward move was halted at the $0.0185 demand zone as the bulls failed to break the resistance zone. The bulls had earlier made attempts at the $0.0185 demand zone but were repelled. Nevertheless, the market also tested the low of $0.0165 demand zone, but the bulls defended the support zone.

In the lower timeframe, you will discover that the market fluctuates between the $0.0165 and $0.0185 demand zones. The price of TRON is expected to rise and reach the previous highs of $0.02 or $0.03 if the bulls overcome the $0.0185 resistance zone. The crypto’s price may as well fall to the prior low of $0.012 if the bears break the $0.0165 demand zone. TRXUSD-Daily Chart August 26, 2019

TRON Technical Indicators Reading

 The price of TRON is above 25% range of the daily stochastic indicator. This implies that the crypto’s price is in a bullish momentum and a buy signal. The price made a false break at the bearish trend line. In other words, the market may resume selling at the $0.0185 demand zone. The crypto’s price is below the blue line, and the red line is moving averages, which indicates that the price is in the bearish trend line.

Conclusion 

The price of TRON was stable above the O.02 demand zone for about a month before the bears overcame the bulls. However, if the bulls fail to defend the $0.0165 demand zone, fresh selling may resume on the price of TRON. On the other hand, if more buyers come into the market at the $0.0165 demand zone, the market will continue its upward move.

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.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Filed Under: Market Analysis Tagged With: Price Analysis, TRON (TRX)

Primary Sidebar

Recent Posts

  • TRON Founder’s Hong Kong Expansion Plan In Jeopardy? March 28, 2023
  • Binance’s New Blockchain Hub In Georgia: Web3 Education & Job Opportunities  March 28, 2023
  • Mike Novogratz Calls For Truce In Bitcoin Vs. Ethereum Rivalry: Making Love, Not War March 27, 2023
  • G7 To Stricter Crypto Regulations While U.S. Govt Faces Criticism For Missteps March 27, 2023
  • Shiba Inu (SHIB) And Theta Network (THETA) Seem Too Volatile To You? Meet Orbeon Protocol (ORBN)! March 27, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.