TRON was at its peak during the mid of April, after which it fell constantly and reached its support line of $0.44. After July end, TRX price rose but couldn’t reach its previous high and formed a new peak at $0.12. The price recently traversed the up-trending line and weakened while reaching its swing low of $0.07.
From December 3rd to December 5th, there was a formation of bearish candles continuously, and the price fell significantly but couldn’t cross the support line of $0.74. This price movement can be an opportunity for bullish investors.
Although the price was on its path to descend, it took a turnaround. There is a slight price movement currently, with price moving in sideways momentum.
On the daily chart, the MACD line and the signal line intersecting do not indicate any particular price flow. However, the coin parting from its support zone can be a signal of bullish momentum. RSI at 39 has started to uplift from its oversold zone and can be expected to head towards the overbought zone. The volume is also currently in favor of bullish investors.
In the hourly as well as the weekly chart, the technical parameters are currently neutral. The bulls should wait for a while before entering the trade. The upcoming price flow would show how the price could move in the future, whether in favor of bulls or bears.
