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- Tron price analysis is bearish today.
- A drop in price detected up to $0.104.
- Support is still strong at $0.103.
The Tron price analysis reveals bears are in the lead for TRX/USD price movement today. A decline in price has been observed again today, as the bears have successfully taken over the price function by dodging the bullish trend that was persistent for the past few days, and bulls were continuously dominating the price function.
The TRX/USD has been on an upwards slope since 19th November as bulls managed to heighten the price up to the $0.107 level spiking up to $0.109 at times, and managed to maintain their lead for three days. Prior to the mentioned bullish trend, the coin also went through severe losses on 16th and 18th November following the market crash. However, today is another day the bears have managed to take the lead.
TRX/USD 1-day price chart: Tron sheds two percent more
The 24-hour Tron price analysis shows that bears have again overtaken the price function today after yesterday’s bullish activity. The TRX/USD pair is trading in the range of $0.101 to $0.107 today, and the TRX/USD is trading hands at $0.104 at the time of writing, losing almost 1.93 percent in today bearish strike. Tron also shows more than 16 percent loss over the past week due to two steep declines observed earlier during the week.
As can be seen on the 4-hour chart, the volatility has slightly decreased, and the relative strength index (RSI) has slightly improved as well, though still in the lower half of the neutral zone, but is trading on an upwards slope at index 46. The moving average is trading above the price level at the $0.105 mark.
Tron price analysis conclusion
The Tron price analysis suggests the price of the TRX/USD pair may improve further as the market sentiment is slowly shifting towards the positive side. However, the price oscillation is slow, and the recovery is expected to remain low as well for today.
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