{"id":148020,"date":"2021-12-22T11:08:17","date_gmt":"2021-12-22T11:08:17","guid":{"rendered":"https:\/\/precoinnews.com\/?p=148020"},"modified":"2021-12-22T11:08:17","modified_gmt":"2021-12-22T11:08:17","slug":"tron-trx-price-analysis-bulls-face-uphill-task-near-0-1","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/tron-trx-price-analysis-bulls-face-uphill-task-near-0-1\/","title":{"rendered":"Tron (TRX) Price Analysis: Bulls Face Uphill Task Near $0.1"},"content":{"rendered":"
TRON price started a recovery wave from $0.0750 against the US Dollar, similar to bitcoin. TRX price is recovering, but it must clear $0.0820 for more gains.<\/em><\/p>\n After facing resistance, tron price started a fresh decline below the $0.0880 level against the US Dollar. TRX price even broke the $0.0850 support level to enter a bearish zone.<\/p>\n A low was formed near $0.0749 and the price started a recovery wave. There was a break above the $0.0765 level. The price even climbed above the $0.0780 level, but it is still below the 55 simple moving average (4-hours). H<\/p>\n There was a break above the 23.6% Fib retracement level of the downward move from the $0.0938 swing high to $0.0749 low. An immediate resistance on the upside is near the $0.0820 level and the 55 simple moving average (4-hours).<\/p>\n There is also a major bearish trend line forming with resistance near $0.0820 on the 4-hours chart. A close above $0.08200 is must for a fresh increase. In the stated case, the price could rise towards the $0.0850 resistance in the near term.<\/p>\n It is near the 50% Fib retracement level of the downward move from the $0.0938 swing high to $0.0749 low. Any more gains could set the pace for a larger increase towards the $0.1000 level.<\/p>\n On the downside, an initial support is near the $0.0780 level. The first major support is now forming near $0.0750. The next major is near the $0.0720 level. Any more losses might call for a sharp decline towards the $0.0680 level.<\/p>\n <\/p>\n Tron (TRX) Price<\/p>\n The chart indicates that TRX price is now trading below $0.0820 and near the 55 simple moving average (4-hours). Overall, the price could start a major increase if there is a clear break above the $0.0820 resistance.<\/p>\n 4 hours MACD \u2013 The MACD for TRX\/USD is slowly gaining momentum in the bullish zone.<\/p>\n 4 hours RSI – The RSI for TRX\/USD is just above the 50 level.<\/p>\n Key Support Levels \u2013 $0.0780 and $0.0750.<\/p>\n Key Resistance Levels \u2013 $0.0820, $0.0850 and $0.0900.<\/p>\nTron Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n