TRON (TRX) Price Analysis (February 15)

    • The overall outlook of the cryptocurrency is in an uptrend.
    • Traders may consider buying with bullish reversal candlestick pattern as confirmation.

    TRX/USD Medium-term Trend: Bullish

    • Resistance levels : $0.028000, $0.029000, $0.030000
    • Support levels: $0.012016, $0.011000, $0.01900

    Tron medium-term outlook continues in a bullish trend zone. The coin reaches a high of $0.026800 in the resistance area during yesterday's session.

    Today’s daily candle at $0.026403 in the support area is as a result of the bears’ brief return.

    Reactions from the bears drop the coin further down to $0.25465 in the support area.

    Price of Tron is above the two EMAs suggests the momentum in price of the crypto is in an uptrend.

    However, the stochastic oscillator signal pointing down at level 83% in the overbought area is an indication that the price of the coin may likely encounter a trend reversal in the days ahead in the medium-term.

    TRX/USD Short-term Trend: Bullish

    The cryptocurrency is in an uptrend in its short-term outlook. The 4-hourly candle opens today on a bearish note at $0.026403 in the supply area with its wick touching the resistance line.

    Price of Tron further drops to $0.025597 in the support area. With the price above the two EMAs indicates the momentum in price of Tron is in an upward trend.

    The stochastic signal pointing down at around level 79% in the overbought region implies the momentum in price of Tron may likely change in the future in the short-term.

    Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication ( holds any responsibility for your financial loss.

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    Ben Jordan
    Ben Jordan
    Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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