TRON coin was created in Singapore has a CMP below $0.100. It has perceived a major collapse in May to July period with a drop of 72% in price. In April, the coin has been at its highs of $0.184 and has made a solid resistance level.
On September 15, the TRX coin made a new resistance at $0.124 and took a turn around from that point. TRON is moving in consolidated momentum, and the price trailing in between the trend lines can be a noticeable point for the coin to enter and exit the trade.
TRON has broken a robust uptrend line coming over from July 22. The price is constantly getting tested at the trendline but is failing to descend. If the coin continues to fall, it may reach its support of $0.080.
The MACD indicator shows that both the lines overlap each other, not indicating any vibrant move of price. The coin price might decline further. The RSI is at 42 and is heading towards the oversold zone, and the accelerator oscillator showing red bars denote a sell signal giving bearish sentiment to the traders.
The investors should do their due diligence before investing as there is a bullish divergence in daily and weekly time frame charts but the technical parameters and the testing of the trend line are giving a bearish hope for the long run.
The TRON shows an excellent trading opportunity depending on the upcoming move of price in any direction. If the price crosses the low of $0.081, a selling opportunity can be expected.
