TRON (TRX) Analysis

2 min read April 10, 2024
Richard Fetyko

TRON (TRX) Analysis

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, Volume, Support and Resistance.

TRON (TRX) technical analysis:

Trade setup: Trends are mixed. Price broke above resistance level of $0.14 but failed to stay above it and pulled back. We would be buyers near $0.11 support zone (near 200-day moving average), with +20% potential upside to $0.13 near-term and $0.14 mid-term. Stop Loss (SL) at $0.107. (Set a price alert).

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

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).

Support and Resistance: Nearest Support Zone is $0.120, then $0.110. The nearest Resistance Zone is $0.130, then $0.140.

See live TRON (TRX) chart here

See more curated charts of coins with technical analyses.

TRON_Tether_2024-04-10_14-29-43

Recent news and research:

TRON Founder H.E. Justin Sun Announces the Launch of USDD — A Decentralized Stablecoin

Justin Sun to launch algorithmic stablecoin USDD on Tron, will use $10 billion of crypto as collateral

Centre to Expand USDC to Ten More Blockchains; Launches on Tron

Tron (TRX) Blockchain Starts Supporting Major Tether Rival USDC

Find more real-time news here.