Tron (TRX) Price Analysis – December 5
Since the beginning of this month, Tron (TRX) is yet to display a significant bullish move as the market continues to move in sideways.
TRX/USD Market
Key Levels:
Resistance levels: $0.016, $0.017, 0.018
Support levels: $0.012, $0.011, $0.010
TRX/USD remained indifferent to the news. The last three days were extremely bearish, wherein the price fell from $0.0160 to $0.0142. Today, the price has gone up to $0.0145. The daily price has been trading below 9-day and 21-day moving averages as the trading volume decreases. As the TRX remains in an unstable market, a price surge may likely play out.
However, for an upsurge, the Tron price is likely to meet the nearest resistances at $0.016, $0.017 and $0.018 before we can consider more levels for the trade. A down surge, however, could plummet the market to $0.0120, $0.010 and $0.009 supports after a possible break at $0.013. The RSI (14) has maintained trading in sideways and moving below level 40 which shows an indecisive movement.
TRX/BTC Market
Comparing with BTC, the pair has eventually broken another important support at the 198 SAT. Tron price may likely see another sharp drop at 190 SAT support level as it moves below the channel. Breaking this level could further push the market to the nearest support levels at 182 SAT, 177 SAT, and 172 SAT.
However, TRX is currently changing hands at 196 SAT and if the bulls can hold the price from where it is now, the next key targets resistance lies at 210 SAT and 215 SAT respectively. Reaching these levels may likely move the market to 220 SAT. Meanwhile, RSI (14) is moving towards level 40 and may likely give a possible bearish signal today.
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