PRESS RELEASE: Tron (TRX) Price Increases By 2.83% Yesterday, Further Inclination Expected

XRPUSD Price Analysis – January 25

The coin can move up and test the resistance level of $0.032 this week. Should bulls increase their pressure, the resistance level of $0.032 may not hold and it may be exposed to another resistance level of $0.035.

Key Levels:

Resistance levels: $0.032, $0.035, $0.040

Support levels: $0.029, $0.026, $0.024

TRX/USD Long-term Trend: Bullish

The sellers of TRX/USD were unable to push the price lower far below the support level of $0.026. The price rises due to the bullish pressure towards the resistance level of $0.029. Some bullish candles were formed which further increases the price last week towards $0.032. The price is above 9-day EMA and 21-day EMA. The coin can move up and test the resistance level of $0.032 this week. Should bulls increase their pressure, the resistance level of $0.032 may not hold and it may be exposed to another resistance level of $0.035.

TRXUSD Daily chart, January 25

However, the price might go down within the next several trading days, in case the resistance level at $0.032 holds and there would be a breakout towards the south at $0.029, further decrease in price may reach $0.026 and $0.024 price level. The Relative Strength Index Period 14 on the daily chart is above 50 levels with the signal lines pointing towards the north, indicating that there could be a further bullish movement this week.

TRX/USD Price Medium-term Trend: Bearish

TRX/USD is on the bullish movement. The coin found support at $0.026 last week; the level happens to be the low of the week. It rallied towards the north as the strong and massive bullish candles emerge, the former resistance level at $0.029 has turned to support level and the price is currently exposed to the resistance level of $0.032.

TRXUSD 4-hour chart, January 25

In case more buyers come in this week, there is a probability that the price will experience a further uptrend towards the resistance level at $0.032. The further increase may test the previous high at $0.035.

This is a syndicated post from https://www.cryptovibes.com/blog/2021/01/25/tron-trx-price-increases-by-2-83-yesterday-further-inclination-expected/