Generative Data Intelligence

TRON Price Recovers Before The First Hurdle Of $0.12


Mar 22, 2024 at 14:07 // Price

The price of TRON (TRX) has fallen well below the moving average lines. Price analysis on March 22, 2024 by

Long-term forecast for the TRON price: bearish

During the last rally, the altcoin reached a high of $0.144 before being pushed back. The altcoin has recovered from its recent decline. Buyers are hoping to push the altcoin to the overhead barrier of $0.17.

Today, TRON fell to a low of $0.11 as bulls bought the dips. The altcoin is correcting upwards again, although it is hitting a first obstacle at $0.12. On the upside, TRON will resume its uptrend if buyers break above the initial barrier at $0.12 and break above the moving averages. The altcoin is valued at $0.121 at the time of writing.

TRON indicator reading

The TRON price bars are below the moving average lines, indicating an earlier downturn. The downturn has slowed down. On the 4-hour chart, the price bars are trapped between the moving average lines. This indicates a possible rangebound trend for the cryptocurrency.

Technical indicators

Important supply zones: $0.09, $0.10, $0.11

Important demand zones: $0.06, $0.05, $0.04

TRXUSD_ (Daily Chart) – March 21.jpg

What is the next direction for TRON?

TRON is still in a downtrend below the moving average lines. Currently hovering between $0.11 and $0.13, the altcoin is correcting upwards but is encountering resistance at its high of $0.12. To restore positive momentum, the bulls need to keep the price above the resistance level of $0.13 and the moving average lines.

TRXUSD_ (4 hour Chart) –March 21.jpg

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Readers should do their research before investing in funds.


Latest Intelligence


Chat with us

Hi there! How can I help you?