The price of TRON (TRX) is in a horizontal trend and continues to trade with choppy price action.
TRX price long-term forecast: ranging
The price is fluctuating in a narrow range of $0.23 to $0.24. The price movement is slow due to the dominance of doji candlesticks, which indicate that traders are unsure about the direction of the market.
TRX will move higher if it recovers and breaks through the $0.24 resistance level.
TRX indicator analysis
Doji candlesticks cause the moving average lines to be horizontal. The price bars are represented by doji candlesticks moving below and above the moving average lines. On the 4-hour chart, the price bars are above the moving averages. The uptrend is being held back by resistance at $0.24.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What is the next move for TRON?
TRON is trading in a narrow range and is moving within this range. The trend will continue if support at $0.23 or resistance at $0.24 is broken. However, the continued presence of doji candlesticks has slowed the price action.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
