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.
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.
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