Tron technical analysis today shows that price level $0.02536-$0.02566 has been acting as strong resistance.
It has retraced 5% lower after testing the resistance level recently.
Let's look at the insights of Tron price analysis 2019 on its Hourly (4H)-timeframe chart.
It has been forced to give up crucial support around $0.02536 price level and has been acting as strong resistance.
After breaking down from 200H-Moving Average, pair has been trading below it since then. Also, Ichimoku cloud will be acting as tough resistance to break but if it accelerates through it then it would be bullish for the pair.
Also, there is a bearish crossover of 10H and 20H EMA’s which is not good for bullish momentum. Tron Elliott wave theory depicts that Tron wave next support will be around $0.02170-$0.02254 (green bar).
MACD is slightly turning bearish but Stoch-RSI is moving towards the oversold zone which is slightly bullish for the asset. TRX/USD needs to hold the last major support level around $0.02170 for Tron analysis meaning with bullish sentiments.
Tron founder and CEO Justin Sun announced via Twitter that he has a secret Valentine’s Day surprise for Tron and BitTorrent. He said, “We’ll have a secret campaign released on Valentines Day for TRON and BitTorrent! Numerous celebrities will be on board."
This might serve as a catalyst to push the price higher but not necessarily.
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