Dominant bias for TRON (TRX)- Bearish
Resistance Levels- $0.02500, $0.02600, $0.02800
Support Levels- $0.02000, $0.01800. $0.01600
TRON is in a bearish trend. The bears’ pressure was obvious at $0.02371 in the resistance area from the formation of a gravestone doji. This was after the bulls managed to push TRON price up from $0.02339 in the support area. Increased bearish momentum dropped TRXUSD at 2340 in the support area as the market came to a close yesterday forming a bearish marubozu candle a further confirmation of bears takeover of the market.
The bearish 4-hour opening candle at $0.02342 sustained the momentum as TRON was down to $0.02322 earlier today.
TRX Price still lies below the 34 exponential moving average an indication of bears pressure The relative strength index is at 33% which remains a selling zone and its signal points down which suggests downward movement in price.
As more candle opened and closed below the 34 EMA which indicates continued bears pressure, $0.02100 in the support area may be retested.