Tron’s price has risen from $0.1250 to the US Dollar. TRX outperforms Bitcoin, and it could go above $0.1320.
- Tron has risen above the resistance level of $0.1280 against the US Dollar.
- The 100-hour simple moving average is higher than $0.130.
- On the hourly TRX/USD chart, there is a strong bullish trendline with support located at $0.1305 (data from Kraken).
- It is possible that the pair will continue to increase in value, possibly reaching $0.1335 and even $0.1350.
Tron price sees more upsides
Recently, Bitcoin The following are some examples of how to get started: Ethereum The price of Tron fell below the $0.1250 support and then again, to $2.700. Tron’s price rose above $0.1250 and was stable.
A decent movement was seen above the resistance area of $0.1300. TRX even touched the $0.1315 price level. The price has shown signs of further upsides. A new high was formed at $0.1314. A key bullish line is forming at support of $0.1305 in the hourly chart for the TRX/USD.
The trend line is very close to the 23,6% Fib level of the upward movement from the $0.1256 low swing to the $0.1314 peak. Now, the price is above $0.1300 as well as the 100 hourly simple moving average. Initial resistance near $0.1320 is on the upside.
Above $0.1332, the price may accelerate upward. Near $0.1350 is the next major resistance. If TRX closes above the resistance of $0.1350, it could send TRX higher towards $0.1400. Next major resistance lies near $0.1420, and above this level the bulls will likely aim to increase the price further towards $0.1450.
Do Dips Work in TRX?
The TRX price could begin a correction to the downside if it fails to break through resistance at $0.1320. On the downside, initial support is located near the trendline and in the zone of $0.1300.
It could reach $0.1280 if it falls below the level $0.1285, which is the Fib 50% retracement of the move upward from the swing low $0.1256 to the high $0.1314. Tron may be pushed towards the $0.1265 resistance in the next sessions, if there are any more losses.
Technical Indicators
Hourly MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.
Major Support Levels – $0.1300 and $0.1285.
Major Resistance Levels – $0.1320 and $0.1350.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
