Tron Price Prediction For Today, October 6

Tron Price Prediction For Today, October 6 – TRX Technical Analysis

Updated: 06 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Tron price prediction moves to cross below the 9-day moving average following the current bearish action in the market.

Tron Prediction Statistics Data:

Tron price now – $0.088
Tron market cap – $7.9 billion
Tron circulating supply – 89.0 billion
Tron total supply – 89.0 billion
Tron Coinmarketcap ranking – #10

TRX/USD Market

Key Levels:

Resistance levels: $0.098, $0.108, $0.118

Support levels: $0.081, $0.071, $0.061

Tron Price Prediction For Today, October 6 – TRX Technical Analysis — TRXUSD – Daily Chart

TRX/USD is currently moving toward the negative side as the coin begins to follow the bearish trend. At the time of writing this, the Tron price is attempting to cross below the 9-day moving average and once this is done, the coin may hit the nearest support level at $0.088.

Tron Price Prediction: Tron (TRX) May Continue in Red

The Tron price is yet to recover from the current trading levels, and traders may likely see the Tron price fall to a new trading low. A break below the 9-day and 21-day moving averages may provoke a further decline toward the critical supports at $0.081, $0.071, and $0.061. Therefore, the short-term technical analysis shows that the coin may continue the downward movement.

Looking at the daily chart, if the coin decides to change the movement, a break toward the upper boundary of the channel may take Tron to the nearest resistance level of $0.095 while a further push could take it to a high of $0.098, $0.108, and $0.118 resistance levels. Presently, the 9-day MA is still above the 21-day MA, any bearish movement toward the south could cause the market to experience another deep fall.

TRX/BTC May Go Bearish

Against Bitcoin, the Tron price is moving bearish within the channel, especially in the past few hours. However, the coin may cross below the 9-day and 21-day moving averages and may likely fall through subsequent support levels to 320 SAT. The critical support level is located near the lower boundary of the channel at 300 SAT and below.

However, if the bulls manage to power the market, traders may find the resistance level at 355 SAT and above. Meanwhile, the Tron price is currently changing hands at 322 SAT but a surge in volatility may occur as the coin may spike above the upper boundary of the channel, meaning that a bullish trend could play out.

Tron Alternatives

The Tron price is likely to break to the downside and the coin could break down heavily to gain more downtrends. At the time of writing, TRX/USD is hovering at $0.088 as it prepares to break below the 9-day moving average. Should it slide below this barrier, the critical support level of $0.085 could be reached.

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