Tron price analysis (TRX): trends of 28 August – 3 September 2018

  Photo: Shutterstock

Photo: Shutterstock

Key points:

  • There could be a bullish break at $ 0.024;
  • c & # 39; is the confirmation of the "W" model both on the 4H chart and on the daily chart; [19659005] taking long negotiations may be advisable.

TRX / USD Long-term trend: bearish

Resistance levels: $ 0.024, $ 0.031, $ 0.041
Support levels: $ 0.015, $ 0.010, $ 0.0050 Tron is in steady decline for several weeks, after which the price started to rise towards the resistance level of $ 0.024. The last two weeks, the price has not been able to break the resistance level at $ 0.024 on the upside. Bearish pressure further reduces the price to the support level by $ 0.015 before the price began to consolidate. Now has formed a "W" model

There is a probability that the price may increase in the next trading days, making a northward deviation at $ 0.024. In the daily chart the Stochastic Period of the oscillator 14 is above level 60 with the signal lines pointing towards the North, suggesting that there may be a bullish breakout.

TRX / USD Price Medium-term trend: Bearish

The cryptocurrency on table 4H; the trend is also on the downside by making "lower lows" "higher lows" within the resistance level of $ 0.024 and the support level of $ 0.015. Currently, there is a bullish retracement towards the resistance level of $ 0.024 to complete the formation of the "W" model. TRX / USD remains above 10-day EMA and EMA 50 remains below EMA 10, indicating that there may be an upward movement.

A bullish signal is ahead when the resistance level of $ 0.024 is broken up. The upward movement is possible because the Period 14 of the stochastic oscillator is greater than 70, with the signal lines directed to the north. Taking a long position this week could give some green seeds.

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