TRON [TRX] Weekly Chart – Source:
A look at the weekly chart for TRX shows us that after the highs of January 2019 at $0.35, TRX has lost 97% of its value, and is now trading at around $0.01.

While this is the lowest price has been after the fall, it is not clear if we have made a bottom. The price has been following a steadily declining support line, depicted by the solid green line.

Long-Term Outlook

TRON [TRX] 3-Day Chart – Source:
Moving forward to the 3-day chart, we can see that price is facing resistance from both the 7 and 21 period moving averages and a thick cloud.

Furthermore, while the RSI is <30, the lowest it has been, there is no bullish divergence developing yet. Finally, there is bullish divergence developing in both the MACD and the Chaikin Oscillator.

Medium Term Outlook

TRON [TRX] 12-Hour Chart – Source:
A closer look at the 12hr chart shows us that price broke down from the longstanding support area of $0.18.

Furthermore, the price went back up to touch and validate the support line (downward pointing yellow arrow), which now acts as resistance.

It is worth keeping an eye on whether the 7 and 21 period MA’s make a bullish cross, or if it is rejected and the price continues falling.

Short-Term Outlook

TRON [TRX] 2-Hour Chart – Source:
A look at the shorter 2hr time-frame gives us a solid price structure.

Price has been following a steadily increasing support line (green line) and is possibly forming a symmetrical triangle.

It is worth checking which way price breaks out of this pattern.


  • Price has fallen 97% since the January highs.
  • Price is following a steadily falling support line.
  • Possible symmetrical triangle in the short term.
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