Tron Price Analysis: TRX Struggling Heavily, Will It Reach The Lows Of December 2018?

  • Tron saw a sharp 25% price fall over the previous month, causing it to collapse to the $0. 0129 level.
  • The cryptocurrency is fighting against BTC after falling beneath a rising trend lineup in early December.
  • Tron could muster greater from here because the Stochastic RSI lines to acquire a bullish crossover signal.

Key Support & Resistance Levels

TRX/USD

Support: $0. 0121, $0. 0112, $0. 0101 

Resistance: $0) 014, $0. 0162, $0. 018.

ETH/BTC:

Support: 171 SAT, 162 SAT, 152 SAT.

Resistance: 191 SAT, 200 SAT, 207 SAT.

TRX/USD —  Are We Headed To December 2018 Lows?

The daily chart clearly shows Tron struggling substantially over the past fourteen days of trading. There was a little rally toward the finish of November. However, it had been unable to conquer the resistance at $0. 0162, causing it to roll over and fall again. The cryptocurrency recently found support at $0. 0121 (October lows), but the bears are shaping up to re-test this service soon.

This coin is strongly bearish, and whether it falls beneath the 0. 012 support, the bearish run might be expected to continue. To turn bullish, this coin has to rise within the 0.019 resistance quantity that’s provided from the 200-instances EMA.

Tron Short Term Price Prediction

If the sellers continue to breed the present marketplace, immediate service is probably at $0. 0121. Beneath that, service is situated at $0. 0112, that’s the December 2018 lows. If the sellers push here, they will be developing a brand-new multi-year low. If which is the way it is, added support may be expected at $0.010 (disadvantage 1. 414 Fib Extension) and $0. 0084 (disadvantage 1. ) 618 Fib Extension).

Alternatively, if the buyers regroup and push higher, first immunity is situated at $0. 0137. Above that, resistance is situated at $0. 0162 and $0. 0168 (100-instances EMA).

The RSI is below the 50 level to show the sellers have of the market momentum. However, the Stochastic RSI is primed for a bullish crossover signal, which could send the market higher.

TRX/BTC: TRX Breaks Rising Support Line And Drops Drastically

trxbtc-dec19

Against Bitcoin, Tron bankrupt under the rising trend line toward the start of December, causing it to roll over and fall quite precipitously. It sank beneath service at 200 SAT and 191 SAT (.5 Fib Retracement) for into the current support at 178 SAT. 

For this market to be considered bullish, TRX would need to rise within the 215 SAT level to violate the December highs.

Tron Short Term Price Prediction

If the bears continue to push the price reduced, we could expect immediate support from the 171 SAT level. Beneath that, service is situated at 162 SAT and 152 SAT (. 886 Fib Retracement). Alternatively, if the buyers regroup and start to drive greater, we can expect immunity at 190 SAT and 200 SAT. Above 200 SAT, resistance is situated at 207 SAT (100-instances EMA).

The RSI is in extreme oversold conditions, which demonstrates that the sellers may be somewhat overextended. Similarly, the Stochastic RSI is quite oversold because we wait patiently to acquire a bullish crossover signal to grow to deliver us more.

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Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.

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