TRON Price Analysis: TRX Coin Death Cross May Happen Soon

  • TRX coin price remains downwards during the intraday trading session
  • Trading price of the TRX/BTC pair is 0.00000181 BTC, a neutral of 0.4%
  • The 24-hour trading volume is at $843 Million
Source: TRX/USD on TradingView

The daily technical chart of the TRX Coin price lacks momentum and drops near the support during the day. According to Pivot points (FIB), TRX’s crucial support level is $0.052065. Conversely, if it rides up, the required resistance level to observe is at $0.065992. Thus, while the intraday chart forms a Doji star candlestick pattern, predicting prices in a sideways trend with high dependability.

The exponential moving average (EMA) composed of 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe the price is below the orange line EMA-200, ensuring a downward trend of Tron price.

Volume of (2.974M) is beneath the MA of 20-days (9.0M). selling pressure is Moderate in Tron, making its price remain in a lower zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The MACD indicator gives (bearish) crossover below the signal line on July 14, indicating a sell signal in the coin. Moreover, Investors can see emerging red bars in the Histogram index.

TRON (TRX) Coin Needs to Generate Buying Pressure Near The Support Zone
The price of TRX Coin is $0.058755, a loss of 3.2% in 24 hours and a weekly loss of 9.5%. In contrast, the market value is 4.211 billion US dollars. Technically, investors can notice that the price is consolidating. Therefore, the MACD indicator indicates a sell signal. However, on the token, trading volume is very low. In addition, price movements may remain downside in future trading hours.

Resistance level: $0.065992

Support level: $0.052065

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