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Tron price analysis: TRX/USD drops as overall sentiment remains bearish

FX Street
Updated:
  • TRX/USD is currently priced at $0.014.
  • Moving Average Convergence/Divergence (MACD) indicator currently shows decreasing bearish momentum.

Tron continued its bearish sentiment this today as it dropped from $0.0141 to $0.014. The hourly breakdown shows us that the market found resistance at $0.0148 and then dropped to $0.014. The daily chart shows us that the market has massive resistance around the $0.018 zone and support at $0.0127 level. The market has found resistance at the downward trending line, 50-day Simple Moving Average (SMA 50) and SMA 20 curves.  

TRX/USD daily chart

fxsoriginal

TRX/USD is trending below the SMA 200 curve. The widening of the 20-day Bollinger Band shows increasing market volatility. The Moving Average Convergence/Divergence (MACD) indicator shows a reversal of momentum from bearish to bullish. The Elliott Oscillator shows four straight bullish sessions.  
 

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