- When compared to other altcoins, TRX (TRON) currently sits quite comfortably.
- TRON is trying to turn the $0.0815 resistance level into support for over a month.
- The TRX could see a 26% increase in price.
When compared to other altcoins, TRX (TRON) currently sits quite comfortably. TRON (TRX) is trying to break the resistance barrier in the longer timeframe to turn it into a support level. Bulls may rally if the move succeeds.
TRON is trying to turn the $0.0815 resistance level into support for over a month. TRON will move higher when buyers enter and daily candlesticks close at the resistance.
To confirm that the level has been reached, investors need to be patient and wait for a test. TRON could reach $0.101 at this point.
This move may result in a 26% increase in TRX’s price if you look at the bigger picture.
TRX/USDT 1-day chart Source: FXStreet
TRON’s situation may seem bleak at this time, but investors need to be patient and not become overwhelmed by the volatility.
TRON sits well above the Simple Moving Averages (SMAs) of 100-day and 50-day respectively. This could indicate a potential weakness by buyers if the daily candlesticks fall below $0.069 on the 100-day SMA.
TRON currently trades at $0.08113, following a 0.1% drop over 24 hours and a peak of $0.08174 in the same period according to CoinMarketCap.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.