TRX Price Analysis – April 17
After touching the daily high of $0.18, the bears took full control of the market and lowered the price to $0.15.
Resistance levels: $0.20, $0.21, $0.22
Support levels: $0.13, $0.12, $0.11
Looking at the daily chart, TRX/USD plunges to $0.015 as the coin faces the negative side, amounting to a price change of 0.37% a few hours ago. In fact, the technical indicator is also facing the south as the trend is favorable for bears. However, the $0.013, $0.012, and $0.011 support levels could provide support for the market if the selling pressure continues.
What to Expect From Tron (TRX)
TRX/USD is currently trading at a price level of $0.16. Now, the price action is eroding bearishly on the daily chart. If $0.14 can act as a support level, the TRX price may test the potential resistance again at $0.20, $0.21, and $0.22 respectively. For now, there is no sign of bullish movement as the technical indicator reveals. The main support for this market is located at $0.13, $0.12, and $0.11 as the RSI (14) is moving within the overbought region.
TRX/BTC Market: Bulls are Flexing their Muscles
Against Bitcoin, the pair is trading within the channel immediately after the price touched 290 SAT. Presently, the price is trading above the 9-day and 21-day moving averages. So if the bears begin to introduce more pressure into the market, TRX/BTC may likely hit the critical supports at 230 SAT and below.
However, the RSI (14) indicator shows that the market may begin a sideways movement as the signal line moves in the same direction within the overbought condition and traders may need to wait for the next possible directions of the coin. Meanwhile, a reversal might come to play if the key support of 255 SAT could hold the price and there might be a bull-run towards the next resistance levels of 300 SAT and above.