Long-term price forecast for TRON is pessimistic

Since the price decline on June 10, the cryptocurrency's price has been trending horizontally above the $0.069 support. The presence of Doji candlesticks has limited price movement.

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Nevertheless, the price indicator predicted that the price of cryptocurrencies would continue to fall. On the 10 June price decline, RON concluded an upward reversal and a candlestick probed the 61.8% Fibonacci retracement line. TRON is anticipated to fall below the 1.618 Fibonacci extension or $0.05 level as a result of the decline. If the present level of support at $0.065 is broken, selling pressure will increase once more.

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TRON indicator display

TRON has dropped to position 43 on the Relative Strength Index for the period of 14 weeks. The altcoin is in a downward trend and further declines are possible. As long as price bars remain below the moving average lines, the cryptocurrency will continue to decline. The altcoin is presently experiencing a downward trend, with a rejection at the $0.072 peak. It is less than 75, the daily stochastic value.

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What is the future course of TRON?

TRON is losing ground due to market rejection in the overbought region. The alternative coin could drop below $0.064 if the current support is broken. TRON's bullish momentum will recommence if purchasers maintain the price above the $0.075 resistance level.