TRON (TRX) technical analysis:
Trade setup: Price rebounded from $0.05 support and rallied hard above 200-day moving average, down trendline, and reached $0.065 horizontal resistance. However, it’s overbought (RSI > 70) and likely to pull back before resuming uptrend.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.058 (previous resistance), then $0.050. The nearest Resistance Zone is $0.065, then $0.070.
Trade setup: Price rebounded from $0.05 support and rallied hard above 200-day moving average, down trendline, and reached $0.065 horizontal resistance. However, it’s overbought (RSI > 70) and likely to pull back before resuming uptrend.
Trend: Uptrend on Short- and Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.058 (previous resistance), then $0.050. The nearest Resistance Zone is $0.065, then $0.070.