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A look at the 3-day TRX chart shows that the price has moved beyond the 7 and 21 moving averages and is currently in the resistance area formed by the highs of August and October 2018.
The price is also facing resistance from the cloud. While the resistance to price break or retrace? Let's find out.
Long-term Outlook
A look at the daily chart provides conflicting information.
The price is facing the resistance of the MA of 200 periods, which coincides with the resistance area outlined in the 3-day chart.
Furthermore, there is a bearish divergence both in the RSI and in the MACD.
However, the price is higher than the moving averages of 7, 21 and 50 periods and managed to overcome the cloud.
Medium-term Outlook
A look at the 12-hour chart paints a slightly more bearish picture.
The price is developing a significant divergence in both the RSI and the MACD.
Short-term outlook and price forecasting
A look at the 6-hour chart supports the results of previous longer-term charts.
The price has developed significant downward divergences both in the RSI and in the MACD.
This makes a double upper scheme very likely.
Therefore, I believe that within the next two weeks the price will drop and will test the support area at $ 0.16.
conclusions:
- The price is in a significant area of resistance.
- A bearish divergence is developing in the medium to long period of time.
- Double probable upper scheme.
- Tron price forecast: the price will drop and test $ 0.16 within two weeks.
Last Tron [TRX] News:
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