Cryptocurrency

TRON

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   Oct 12, 2023 at 05:56 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/804/900_900_1/2l0bhhz3jw3z2dm04ygx28wpqf7nyw4v.jpg" width="900" height="563" alt="TRON crashes into an overbought region" title="">
 <p><strong>The price of TRON (TRX) has fallen below the 21-day moving average line. Cryptocurrency price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> brought by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="tron-price-long-term-forecast-bearish">TRON price long term forecast: bearish</h2>
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 <p style="text-align: justify;">The cryptocurrency asset is in a downtrend as it is assumed that the previous trend has ended. The altcoin traded and peaked at $0.091. Buyers were unable to sustain the bullish momentum as the altcoin reached the overbought zone. TRX/USD is currently trading at $0.086.</p>
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 <p style="text-align: justify;">On the downside, TRON is at risk of falling further below the $0.083 support level or the low above the 50-day line SMA TRON will head lower if buyers are unable to keep the price above the 21-day line SMA. TRX/USD will be forced to move in a range between the moving average lines if the 50-day line SMA is maintained as support.</p>
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 <h2 style="text-align: justify;" id="tron-indicator-display">TRON indicator display</h2>
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 <p style="text-align: justify;">The cryptocurrency asset will be forced to move in a range as the price bars are between the moving average lines. The increasing slope of the moving average lines indicates a past upswing. TRON is rising as it tries to surpass the 21-day line SMA. An uptrend is resumed when the 21-day line SMA is broken.</p>
 <p style="text-align: justify;"><img width="980" alt="TRXUSD(Daily Chart) – OCT. 11.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/12/08050ccd798a228b35a3ad4b0092f567.webp" height="581" title="TRXUSD(Daily Chart) – OCT. 11.23.jpg"><br></p>
 <p style="text-align: justify;"><b>Key supply zones: $0.07, $0.08, $0.09 </b></p>
 <p style="text-align: justify;"><b> </b></p>
 <p style="text-align: justify;"><b> Key demand zones: $0.06, $0.05, $0.04</b></p>
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 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-tron">What is the next direction for TRON?</h2>
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 <p style="text-align: justify;">TRON is trading in the bullish trend zone, although it has fallen below the 21-day line SMA. The cryptocurrency is trapped in the area between the moving average lines. TRON will pull back above the 50-day line SMA if it is rejected at the 21-day line SMA. The price fluctuations will continue for a few days if the moving average lines remain unbroken.</p>
 <p style="text-align: justify;"><img width="980" alt="TRXUSD_ (4 Hour Chart) – OCT. 11.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/12/7e946ca6939390cbb30861eeafd08c64.webp" height="581" title="TRXUSD_ (4 Hour Chart) – OCT. 11.23.jpg"><br></p>
 <p style="text-align: justify;">Last week Coinidol.com reported that on October 1, the value of the cryptocurrency asset reached a new high of $0.091. The continuous rise of the altcoin has paused for the last four days at the recent high.&nbsp;</p>
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 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b> This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing&nbsp;in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tron-crashes-into-an-overbought-region-tbt66091.html">https://thebittimes.com/tron-crashes-into-an-overbought-region-tbt66091.html</a></p>

TRON Crashes Into An Overbought Region

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