TRON (TRX) Fails to Close Above Major Resistance

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In Brief
  • TRX/USD is facing long-term resistance and support at $0.04 and $0.024, respectively.

  • The price has broken down from a short-term ascending support line.

  • TRX/BTC is facing resistance and support at 450 and 300 satoshis, respectively.

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Despite its increase during the marketwide crash of Sept 2-4, the TRON (TRX) price was rejected at an important resistance area and has lost the majority of its gains made during the previous week. During the week of Aug 31-Sept 6, the majority of the cryptocurrency market decreased considerably. TRX was one of the few that moved in the opposite direction, at one point having increased

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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