Tron (TRX) Price Analysis – October 15
The Tron price is seen rallying towards the south riding on positive technical levels.
Resistance levels: $0.120, $0.125, 0.130
Support levels: $0.080, $0.075, $0.070
According to the daily chart, TRX/USD is currently moving around the 9-day and 21-day moving averages as the coin follows the sideways movement. This means that any gain above $0.110 may likely play out in the next positive moves. The bullish trend is emphasized by both the Relative Strength Index (14) and the 9-day and 21-day moving averages.
Tron (TRX) Price Analysis: Tron (TRX) May Move Sideways
As the Tron (TRX) remains above the 9-day and 21-day moving averages, the technical indicator RSI (14) is not only holding within the positive region but also nurturing a bullish divergence. These technicals if coupled with proper trading volume could easily push TRX significantly above $0.115. More resistance levels may be found at $0.120, $0.125, and $0.130 respectively.
On the downside, TRX/USD is supplied with numerous support levels in the event losses come into the picture. If losses become nerve-shattering, TRX could seek support at $0.085, and also below the lower boundary of the channel while the critical supports are located at $0.080, $0.075, and $0.070.
TRX/BTC Market: Price Remains below the Moving Averages
Against Bitcoin, TRX is trading below the 9-day and 21-day moving averages as the price keeps moving within the channel. However, as the trading volume remains active, the selling pressure has already resumed and the Tron price variation may likely continue the downtrend. The daily chart reveals that the Relative Strength Index (14) moves to cross into the oversold region, the price movement may likely slide from the upside if the bears step back into the market.
However, TRX/BTC is trading around the 165 SAT. Traders can expect a close resistance above the 9-day and 21-day moving averages before breaking to 190 SAT and potentially 200 SAT levels. In other words, if the technical indicator RSI (14) drops below 30-level; traders can then confirm a downtrend for the market and the closest support level could be 150 SAT and below.