Tron (TRX) Price Analysis: Memecoins Support the Price
The Tron network is experiencing a #memecoin wind. This wind is enough to take almost all of the projects on the #TRON network into space.
If the memecoin frenzy on the Tron network continues like this, we may continue to see serious price increases.
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According to the data on August 21, 2024, 10:09, the general TRON price prediction sentiment is bullish, 28 technical analysis indicators give bullish signals, while 5 technical analysis indicators give bearish signals.
According to our technical indicators, the 200-day SMA of $TRX is expected to rise in the coming month and reach $0.127612 by September 20, 2024.
TRON’s short-term 50-day SMA is forecasted to reach $0.142453 by September 20, 2024.
The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70).
The RSI value is currently at 71.77, which indicates that the TRX market is in an overbought position. The RSI indicator suggests that the TRX price is likely to rise.
Based on (P1), TRON, which is worth $0.155047, has support levels of $0.148875, $0.136531, and the strongest at $0.130359. Similarly, TRON resistance levels are $0.16739, $0.173562, and $0.185906.
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