Tron (TRX) price saw a notable price drop yesterday, after which, it has initiated a rebound. However, the rebound has failed to maintain an uptrend, and the coin is currently consolidating near the 23.60% Fib level.
Tron Price Prediction
TRX coin opened yesterday at $0.0142, and it formed a low swing in the first half of the day. The coin increased slightly at $0.01436 to start a steep fall. The coin saw a fall by 2.92% and bottomed at $0.0139.
As it found a support level here, Tron price rebounded and had a few closes above the 50% Fib level. Today, the coin has resumed its rebound while crossing the 61.80% Fib level. Facing a rejection above it, TRX price has corrected down below the 38.20% Fib level. Tron price is trading at $0.0140 at 06:51:18 UTC.
Technical indicators look negative except for the SMA lines. Recently, the lines have traced a golden cross, after which the short-term SMA line has climbed above the long one.
MACD is in the bearish zone with its MACD line on the downside, noting a bearish price move. RSI is at 42, showing no extremities at the moment. The TRX coin, notably, is trading under selling pressure.
Tron is likely to see resistance levels at $0.01436, $0.01463, and $0.01476, while its support levels stand at $0.01396, $0.01383, and $0.01356.
