Tron price is currently trading at $0.0140, which happens to be lower than the mean of 20-day Bollinger Bands and even the 9-day MA. This rightly confirms the selling pressure that TRX coin holds, and the immediate narrowing of lower and upper Bollinger Band is pointing out towards a sudden breakout. However, as per the current movement of Tron cryptocurrency, we believe that the coin will break down this time.
TRX Hits 60-Day Low Amid Bearish Signals
As per the daily price movement of Tron against USD over the past three months, we see that the coin is currently trading at the lowest of the past 60 days. The highest in the said time frame was at $0.0229 when the price trend broke the upper Bollinger Band after narrowing out moderately. This illusionary height has trembled and TRX price hit bottom around $0.0140—where it even hit the lower Bollinger Band. The current trading price is 20.70% more than the marked lowest and over 38% less than the highest in the said time frame.
The technical indicators also confirm the bearish crossover through the MACD line that is running below, wherein the signal line overpowers the MACD line.
The RSI of the TRX coin is at 36.6 and shows no extremities but holds an inclination towards the oversold region. With this, by going through TRX price prediction, we can observe that the major resistance and support levels are marked at $0.020 and $0.0130, respectively.
