coinidol.com
Cryptocurrency analysts of Coinidol.com report, the price of TRON (TRX) has entered a sideways trend after stopping above the $0.217 support level.
TRON price long-term forecast: in the range
It was predicted that the altcoin would decline and reverse at $0.1832, or the 1.272 Fibonacci extension. The crypto price has risen above the 21-day SMA but remains below the 50-day SMA barrier. If the uptrend extends above the 50-day SMA, the upside momentum will continue to the previous high of $0.30. In contrast, TRON will be trapped between the moving average lines for a few days after turning down from the 50-day SMA.
In the meantime, altcoin is moving steadily above its 21-day SMA support. It's worth $0.245.
TRON indicator analysis
The TRON price bars are dominated by doji candlesticks, which cause a gradual price movement. The price bars have broken out above the 21-day SMA but remain trapped between the moving average lines. The moving average lines are horizontal in reaction to the sideways trend.
Technical indicators
Key resistance zones: $0.40, $0.45, and $0.50
Key support zones: $0.20, $0.15, and $0.10
What is the next development for TRON?
TRON will be forced to go sideways on the 4-hour chart as it is trapped between the moving average lines. The price of the cryptocurrency is also trading between the support of $0.22 and the resistance level of $0.28. If the price breaks the 50-day moving average line to the upside, the altcoin will resume its positive trend. It will rise and return to the previous high of $0.28.
Disclaimer. This analysis and forecast are the personal opinions of the author, are not a recommendation to buy or sell cryptocurrency, and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.