TRON Price Prediction Today: Daily (TRX) Value Forecast – June 10
- On June 3, the bulls were resisted and the TRX market was in a downward correction to the support of the 12-day EMA.
- On the downside, if the bearish trend line is unbroken the price of TRON is likely to reach the 0.786 Fib. retracement level.
TRX /USD Medium-term Trend: Bearish
- Resistance Levels: $0.0340, $0.0360, $0.0380
- Support Levels: $0.0300, $0.0280, $0.0260
Last week the price of TRON was in a bearish trend. The TRX coin reached the overhead resistance of $0.03800 on June 2. On June 3, the bulls were resisted and the TRX market was in a downward correction to the support of the 12-day EMA. After a range bound move above the 12-day EMA, the bears broke the EMAs and found support at the $0.0290 price level.
The crypto's price is below the EMAs which indicates that price may further depreciate. Nevertheless, if the bearish trend continues the crypto may find support at the $0.0260 price level. From the Fibonacci tool, the price of TRON has broken the 0.236 and 0.382 Fib. retracement levels which are called the continuation zones.
The bears also broke the 0.50 and 0.618 Fib. retracement levels which are called the downtrend zones. The TRX coin has been reversed from the current trend. On the downside, if the bearish trend line is unbroken the price of TRON is likely to reach the 0.786 Fib. retracement level. On the upside, if the trend line is broken and another candlestick closed on the opposite of the trend line; the bearish trend has been terminated.
TRX/USD Short-term Trend: Bullish
On the 1-hour chart, the price of TRON is in a bullish trend zone. The TRX market fell to the low at $0.0290 support level. After the downward correction, the $0.0290 support was holding as the bulls made an upward move to break above the EMAs. The crypto is currently facing resistance at the $0.031500 price level.
On the upside, if the bulls break the $0,031500 resistance level, the bulls will retest the $0.0360 and $0.0380 resistance levels. Meanwhile, the price of TRON is in the overbought region of the daily stochastic but below the 80% range. This indicates that price is in a bearish momentum and sell signal.
Live Tron (TRX) Price:
1 TRX/USD =$0.0442 change ~ -7.99%
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