Tron is another leader for today as it adds about seven percent for the past 24 hours. The currency pair started from the support area at $0.063 yesterday and managed to cross the resistance area at $0.068 and the Ichimoku cloud. Tron price has almost reached the next resistance area at $0.074, but bulls were unable to drive TRON/USD there and retreated. Tron is currently testing the support area at $0.063 and the higher border of the Ichimoku cloud with is close to the current levels.
The possible scenarios for the currency pair are the following:
1. TRON/USD will jump off this support area at $0.068 and go towards the next resistance area at $0.074. There everything will depend on the results of testing.
2. The currency pair will break through the support line here and start to decline towards the next support area at $0.063. However, bears will have to cross the Ichimoku cloud in order to reach their targets.
3. Tron will stay close to the current levels without significant changes and with low volatility.
As for the daily chart, Tron fluctuates inside a horizontal channel, formed by two levels- $0.070 as resistance and $0.055 as a support area. Tron price is not far from the Ichimoku cloud and is likely to meet it in a couple of weeks or even earlier.
Check the full crypto analysis HERE
The possible scenarios for the currency pair are the following:
1. TRON/USD will jump off this support area at $0.068 and go towards the next resistance area at $0.074. There everything will depend on the results of testing.
2. The currency pair will break through the support line here and start to decline towards the next support area at $0.063. However, bears will have to cross the Ichimoku cloud in order to reach their targets.
3. Tron will stay close to the current levels without significant changes and with low volatility.
As for the daily chart, Tron fluctuates inside a horizontal channel, formed by two levels- $0.070 as resistance and $0.055 as a support area. Tron price is not far from the Ichimoku cloud and is likely to meet it in a couple of weeks or even earlier.
Check the full crypto analysis HERE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.