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Tron price is facing a lot of hurdles near the $0.0340 and $0.0350 resistance levels. TRX is currently declining towards the key $0.0292 support, which holds the key in the near term.

  • Tron price failed to climb above the $0.0360 level and recently declined below $0.0340.
  • There is a major bearish trend line forming with resistance at $0.0340 on the 4-hours chart.
  • TRX price is approaching a crucial support near $0.0292, below which it could decline heavily.

Tron TRX Price

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Tron Price Analysis (TRX to USD)

Recently, there was an increase in selling pressure on bitcoin, sparking bearish moves in the crypto market. Tron price struggled to remain above the $0.0340 support and it is currently declining towards a few important supports.

Tron Price Analysis (TRX to USD)

Click to Enlarge Chart

Looking at the 4-hours chart of TRX/USD, the pair made an attempt to surpass the $0.0360 level, but it failed. There was no positive close above the $0.0350 level and the 25 simple moving average (4-hours).

As a result, the price started a fresh decline below the $0.0340 level and the 50% Fib retracement level of the last wave from the $0.0292 swing low to $0.0359 high.


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It is now trading below the $0.0320 support, with a bearish angle. An immediate support is near the $0.0308 level and the 76.4% Fib retracement level of the last wave from the $0.0292 swing low to $0.0359 high.

The main support is near the $0.0292 level, below which tron price might start a major decline below the $0.0285 support. It could even test the $0.0275 level or the 1.236 Fib extension retracement level of the last wave from the $0.0292 swing low to $0.0359 high.

On the upside, there are many hurdles near the $0.0340 and $0.0350 levels. There is also a major bearish trend line forming with resistance at $0.0340 on the same chart.

Therefore, a successful close above $0.0340 plus the 25 simple moving average (4-hours) is needed for a fresh increase in TRX/USD. The next important resistances are near $0.0355 and $0.0360, followed by $0.0382.

The market data is provided by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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