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TRON Price Analysis (TRX) 04/24/2020

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Tron has been one of the cryptocurrencies that has given the best performance in recent days, rising just over 11% from the pivot point of the week at $ 0.01275 to the new maximum at $ 0.01432. Today we have a key price point that represents the limit between continuing to rise or starting a price correction again.

As we can see in the graph, the price used 38% Fibonacci to end the downward correction that it brought since April 10. After that, it began to touch these levels several times, further reinforcing the supports until it finally went up on April 20 when it touched the uptrend line that had formed in the price.

We had a very good entry signal at the pivot point, where we could buy when we broke it or after the small consolidation I made, which although it was not very long, it could do its job and serve as support for this long movement of a eleven%.

The entry signals are clearly not above current levels, a possible rebound could be seen in the weekly S1 near $ 0.01371 and upward the entry could be when R2 breaks at $ 0.01450, just as in the case of the pivot point, when breaking or waiting for a build up on top of it.

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