The post TRON Slips But Recovers Above The $0.124 Support Level appeared on BitcoinEthereumNews.com.

May 19, 2024 at 12:56 // Price The price of TRON (TRX) is currently moving above the moving average lines after reaching resistance at $0.128. Price analysis by Coinidol.com. Long-term forecast for the  TRON price: bullish Since April 19, the price of TRON has risen, making higher highs and lower lows along the way. The current rise is expected to reach its highs of $0.135 and $0.14, although the altcoin has retreated above the moving average lines. Currently, TRON is hovering above the 21-day SMA support. The current rise will continue if it retraces above the 21-day SMA. However, if the bears break below the 21-day SMA support, the current uptrend will come to an end. The altcoin will lose value and fall to a low of $0.115 to $0.11. Currently, the altcoin is trading just above the 21-day SMA support. At the time of writing, TRON is worth $0.124. TRON indicator reading The altcoin is bearish, although the price bars are still above the moving average lines. The uptrend will continue if the bulls hold the 21-day SMA support. The current rise is represented by the moving average lines sloping upwards. The moving average lines form a bullish intersection when the 21-day SMA crosses above the 50-day SMA, which is a bullish sign. Technical indicators Key supply zones: $0.09, $0.10, $0.11 Key demand zones: $0.06, $0.05, $0.04 What is TRON’s next move? On the 4-hour chart, TRON is moving sideways below the $0.128 resistance level. The recent upswing was halted as the altcoin fell below the moving average lines. The altcoin has fallen above its breakout price of $0.124. TRON will rise if the breakout level holds. If the support at $0.124 is broken, selling pressure will increase. Last week Coinidol.com reported that thecryptocurrency hit a first obstacle at…

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Filed under: News - @ May 19, 2024 3:14 pm