Dominant bias for Tron (TRX): Ranging
Resistance Levels: $0.02800, $0.02900, $0.03000
Support Levels: $0.01700, $0.01600, $0.01500
TRX is in consolidation. The bullish pressure from the support area at $0.02470 of 17th October was sustained by the 4-hour opening candle of 18th October at $0.02495. The bullish pressure pushed the cryptocurrency up to $0.02573 in the resistance area and lost further momentum to continue the upward movement as the bears gradually return. The bears did state a come with an engulfing candle at $0.02560 as TRXUSD made a low of $0.02467 in the supply area below the 34-EMA.
The relative strength index is at 46% and it points down which implies a downward movement in price of the cryptocurrency. Price sill lies below the 34 EMA an indication of bear pressure.
TRX is in consolidation and trading between $0.02600 in the upper resistance area and at $0.02350 in the lower support area of the range. Traders should expect a breakout at the upper resistance area or breakdown at the lower support area as a winner must emerge between the bulls and the bear.