TRON Price Remains Stable Above $0.22

The price of TRON (TRX) shows an erratic trading behavior.

TRX price long-term forecast: ranging

TRX is trading in a small range between $0.22 and $0.25, following a horizontal trend. The price movement has remained constant due to the presence of doji candlesticks.

On March 9, as TRX continued its downtrend, the bears broke the moving average lines and the bearish momentum stalled above the $0.22 support level. 

According to price analysis by Coinidol.com, on the downside, TRX will reverse and rebound if support at $0.22 holds. The bears have not broken through the $0.22 support level since January 25.

TRX indicator analysis 

The sideways trend is evident in the fact that the 50-day and 21-day SMAs are horizontally flat. The price bars are below the moving average lines. In addition, the price activity was dominated by doji candlesticks, which slowed down the price movement.

Technical Indicators 

Key Resistance Zones: $0.40, $0.45, and $0.50 

Key Support Zones: $0.20, $0.15, and $0.10

What is the next move for TRON?

TRON's price is moving within a range and will continue to do so as long as the doji candlesticks are present.

TRX is correcting upward to continue its sideways pattern after dropping to the lower price range.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.