{"id":172066,"date":"2023-03-08T09:26:49","date_gmt":"2023-03-08T09:26:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172066"},"modified":"2023-03-08T09:26:49","modified_gmt":"2023-03-08T09:26:49","slug":"tron-trx-price-analysis-risk-of-downside-break-below-0-066","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/tron-trx-price-analysis-risk-of-downside-break-below-0-066\/","title":{"rendered":"Tron (TRX) Price Analysis: Risk of Downside Break Below $0.066"},"content":{"rendered":"
TRON price started a fresh decline below the $0.0680 against the US Dollar, similar bitcoin. TRX price could accelerate lower if there is a move below $0.0533.<\/em><\/p>\n This past week, tron price started a steady decline from well above the $0.0700 resistance level against the US Dollar. TRX price struggled to gain pace for more gains and formed a top near $0.0702.<\/p>\n The price started a fresh decline below the $0.0680 level. There was a clear move below the $0.0665 level. A low is formed near $0.0657 and the price is now consolidating losses. The price is now trading below $0.0680 and the 55 simple moving average (4-hours).<\/p>\n On the upside, TRX is facing resistance near the $0.0668 level. It is near the 23.6% Fib retracement level of the downward move from the $0.0702 swing high to $0.0657 low.<\/p>\n The first major resistance is near the $0.0680 level. There is also a key bearish trend line forming with resistance near $0.0678 on the 4-hours chart. The trend line is near the 50% Fib retracement level of the downward move from the $0.0702 swing high to $0.0657 low.<\/p>\n A close above $0.0678 and $0.0680 is a must for a fresh increase. In the stated case, the price could rise towards the $0.0700 resistance in the near term.<\/p>\n On the downside, an initial support is near the $0.0660 level. The next major support is now forming near $0.0635. If there is a downside break below the $0.0635 support, the price might revisit the $0.0600 support. Any more losses might call for a move towards the $0.0550 zone in the near term.<\/p>\n <\/p>\n Tron (TRX) Price<\/p>\n The chart indicates that TRX price is now trading below $0.0680 and near the 55 simple moving average (4-hours). Overall, the price could continue to move down if it breaks the $0.0660 support zone.<\/p>\n 4 hours MACD \u2013 The MACD for TRX\/USD is slowly gaining momentum in the bearish zone.<\/p>\n 4 hours RSI – The RSI for TRX\/USD is below the 50 level.<\/p>\n Key Support Levels \u2013 $0.0660 and $0.0635.<\/p>\n Key Resistance Levels \u2013 $0.0680, $0.070 and $0.0716.<\/p>\nTron Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n