PRESS RELEASE: Tron (TRX/USD) – the Price Is Consolidating as It Moves Sideways

PRESS RELEASE: Tron (TRX/USD) – the Price Is Consolidating as It Moves Sideways
May 25, 2019
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Tron (TRX) Price Analysis – May 24

Looking through the daily chart, we can already see that buyers are strongly defending the indicated support areas. TRX / USD has once again come down to these levels, which have proved to be buyers several times. The price is skyrocketing from this territory but simply fails to find a total commitment at the moment, given the weakness of the market as a whole.

TRX/USD Market

Key Levels:

Resistance levels: $0.03, $0.04, 0.05

Support levels: $0.02, $0.01, $0.005

The downward trend for Tron ranges from the resistance level at $0.03 to the support $0.02. The formation of the upward trend is not yet present due to the lateral movement of price. The market is between support at $ 0.02 and resistance at $ 0.03.

TRXUSD, Daily chart, May – 24

Buyers can still keep hope alive because the MACD indicator shows a bullish crossover progressing above the zero-line. The histogram represents the same as the green bars have developed above the zero-line.

TRX/BTC Market

After considering what is happening to TRX/USD, we can clearly see that TRX/BTC pair falls mercilessly to the bears’ territory as the market aims at the support level of 0.000003.

TRXBTC, Daily chart, May – 24

If the TRX gains momentum later, the bullish trend can get to the resistance at 0.000004. At the moment, the MACD has successfully and continuously crossed to the negative territory. If this movement continues, more and more support levels would be broken by price.

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