Tron technical analysis today shows that the previous strong support is now acting as resistance around $0.0256-0.026 price level.
It has dropped 7%+ after testing it on 13th February' 2019.
Let's look at the insights of Tron price analysis 2019 on its Hourly (1H)-timeframe chart.
Either the pair will continue to trend lower while moving in a downward channel or it will break out of the falling wedge pattern to test the previous support turned resistance area around $0.0256-$0.026.
If it doesn't break out of the falling wedge pattern then the next support level will be around $0.021-$0.022.
Also,200H-SMA and Ichimoku cloud will offer resistance to the pair in the coming days if tested.
Tron Elliott wave theory depicts that Tron wave is still in the cooling phase.
MACD and Stoch-RSI indicators is neutral at the moment. TRX/USD needs to hold the last major support level around $0.021+ for Tron analysis meaning with bullish sentiments.
Overall, Tron shows bearish sentiments on the Hourly chart but it has been performing well in comparison with crypto assets and a part of its performance is due to BitTorrent’s airdrop catalyst.
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2019-07-24 07:06:49.818397 | 2 min