TRON (TRX) Analysis

2 min read April 19, 2024

Richard Fetyko

TRON (TRX) Analysis

In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Vo lume, Support and Resistance.

TRON (TRX) technical analysis:

Trade setup: Trends are mixed. Price has broken below $0.11 support zone and 200-day moving average, which puts the long-term uptrend at risk and opens up downside risk to $0.10 next. However, it’s also oversold (RSI ~ 30), so we could see a bounce up near-term. No clear trade setup here at the moment. (Set a price alert).

Trend: Downtrend on Short- and Medium-Term basis and Uptrend on Long-Term basis.

Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).

Support and Resistance: Nearest Support Zone is $0.110, which it broke, then $0.100. The nearest Resistance Zone is $0.125, then $0.140.

See live TRON (TRX) chart here

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