Dominant bias for TRON (TRX)- Bearish
Resistance Levels- $0.02500, $0.02600, $0.02800
Support Levels- $0.02000, $0.01800. $0.01600
TRON remains in a bearish trend. The bearish spinning top formed at $0.02200 in the resistance area set the stage for the bears’ return. The cryptocurrency was initially down to $0.02213 and later to $0.02207 in the demand area before the end of yesterday session as the bears increased their momentum.
The 4-hour opening candle was an inverted bearish hammer an indication of bears continued pressure that may prevail in the day.
TRON price is still under the 34 exponential moving average and the relative strength index is in the oversold region at 31% and its signal points down which suggests downward movement in the price of the TRX.
The lower line of the descending channel or the retest at $0.02101 in the support area may be the bears’ target