TRON oscillates and approaches the high of $0.118

TRON oscillates and approaches the high of $0.118

Jun 14, 2024, 19:26

Since May 28, the price of TRON has traded below its moving averages.

TRON Price Forecast: Bearish

On the 7th of June, the cryptocurrency recovered from its lows and crossed over the moving averages. Price of cryptocurrency fluctuates between moving averages, as it is stuck in a range. TRON currently trades at $0.116.

The altcoin trades above the 21-day SMA but below the SMA 50-day. TRON can reach a high of $0.05 if it is held above the 50-day SMA. If the altcoin loses its support from the SMA of 21 days, it will drop to $0.11 as the previous low.

TRON is caught in the middle of the moving average line.

TRON indicator reading

Price bar is between moving averages, as it is stuck in a range. Altcoins are also trading between $0.114 and $0.119. The altcoin's trend will begin when the moving average line is broken.

Technical indicators

Important Supply Zones: $0.13. $0.14. $0.15

Important demand zones: $0.10, $0.09, $0.08

What's the next step for TRON?

TRON is trapped between moving average lines. Altcoins had previously fallen to a low price of $0.109, before recovering. Moving average lines stopped the rising trend. The cryptocurrency will begin to trend upwards if it breaks out from the moving average lines.

READ  Litecoin's Movements Are Limited Due To The Ambivalence of Traders

Last week CryptoGuestPosts stated that TRX had returned to its trading range, which indicated a sideways movement. TRX was trading between $0.10 - $0.122.

Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as an endorsement from CryptoGuestPosts.com. Before investing in funds, readers should conduct their own research.

IT'S TIME TO GO VIRAL

Tap into thousands of readers who are craving the next big crypto projects -- Submit Your Guest Post Now.