Buyers opposed Sellers at $0.045 level in Tron market
TRXUSD Price Analysis – 27 November
There is a probability that the Tron will experience further uptrend movement toward the resistance level of $0.058 and $0.061, below it are the $0.053 and $0.045 levels.
Resistance levels: $0.055, $0.058, $0.061
Support levels: $0.052, $0.045, $0.038
TRX/USD Long-term Trend: Bullish
The sellers of TRX/USD were unable to push the price lower far below the support level of $0.045. The price fell due to the bearish pressure toward the mentioned support level. On 14 November, a strong pin bar formed on the daily chart, which indicates that the sellers’ momentum is exhausted. Some bullish candles were formed which increase the price last week. The price is currently increasing toward the resistance level of $0.055. The buyers were able to oppose the bearish movement at the support level of $0.045.
There is the probability that the price might go up within the next several trading days as a pin bar candle pattern formed on the daily chart. On the daily chart, Tron is above the two EMAs with the relative strength index period 14 at 47 levels with the signal lines pointing towards the north, which indicates a bullish signal.
TRX/USD Price Medium-term Trend: Bullish
TRX/USD in the medium term is bullish. The coin broke up last week’s resistance level at $0.053 and it is increasing to test the resistance level of $0.055 level. The bears’ momentum became weak and bulls gained more power to push the price toward the $0.055 resistance level at the moment.
In case more buyers come in this week there is a probability that the price will experience further uptrend movement towards the resistance level of $0.058 and $0.061, below it, are $0.053 and $0.045 levels. The relative strength index period 14 is at 60, with the signal lines directed towards the north indicating further price increase. Tron is looking for investors but more investors are looking for Dash 2 Trade and IMPT coins.
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