Monday , October 18 2021
Home / Altcoins / Tron (TRX) Price Analysis: Bulls Eye Upside Break above $0.09

Tron (TRX) Price Analysis: Bulls Eye Upside Break above $0.09

Summary:
Tron price is still struggling to clear the %excerpt%.0900 resistance zone against the US Dollar. TRX price is now trading above %excerpt%.0850 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near %excerpt%.0900 on the 4-hours chart (data feed via Bitfinex). The pair is likely to continue higher if it clears the %excerpt%.0900 and %excerpt%.0920 resistance levels. TRON price is slowly moving higher above %excerpt%.0850 against the US Dollar, similar to bitcoin. TRX price is likely to continue higher if it clears the %excerpt%.0920 resistance zone. Tron Price Analysis After forming a base above the %excerpt%.0815 level, tron price started a fresh increase against the US Dollar. TRX price broke the %excerpt%.0850 resistance to move into a positive zone. The pair even broke the

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

Nick Marinoff writes Back Bay Baptist Church Says “Yes” to Bitcoin Donations

Nick Marinoff writes Eric Rosengren: A Digital Dollar Could Be Great for the U.S.

Nick Marinoff writes Sophos Discovers Scam Organization Looking to Steal Crypto from Online Daters

Nick Marinoff writes Wild Pack Beverage Company Says “Yes” to Crypto Payments

  • Tron price is still struggling to clear the $0.0900 resistance zone against the US Dollar.
  • TRX price is now trading above $0.0850 and the 55 simple moving average (4-hours).
  • There is a key contracting triangle forming with resistance near $0.0900 on the 4-hours chart (data feed via Bitfinex).
  • The pair is likely to continue higher if it clears the $0.0900 and $0.0920 resistance levels.

TRON price is slowly moving higher above $0.0850 against the US Dollar, similar to bitcoin. TRX price is likely to continue higher if it clears the $0.0920 resistance zone.

Tron Price Analysis

After forming a base above the $0.0815 level, tron price started a fresh increase against the US Dollar. TRX price broke the $0.0850 resistance to move into a positive zone.

The pair even broke the $0.0880 resistance and the 55 simple moving average (4-hours). However, it failed to gain pace above the $0.0900 resistance zone. A high was formed near $0.0907 before the price started a downside correction.

There was a break below the $0.0900 and $0.0880 support levels. The price traded below the 23.6% Fib retracement level of the recent increase from the $0.0816 swing low to $0.0907 high.

It is now trading above $0.0850 and the 55 simple moving average (4-hours). An initial resistance is near the $0.0890 level. The first major resistance is near the $0.0900 level. There is also a key contracting triangle forming with resistance near $0.0900 on the 4-hours chart.

The main resistance is near $0.0915. Any more gains could set the pace for a move towards the main $0.1000 resistance zone. On the downside, an initial support is near the $0.0875 level. The main support is now forming near $0.0870 and the 55 simple moving average (4-hours).

Any more losses might call for a sharp decline towards the $0.0820 level. The next major support below $0.0820 could be near the $0.0750 zone.

Tron (TRX) Price

Tron (TRX) Price

The chart indicates that TRX price is now trading above $0.0850 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher if it clears the $0.0900 and $0.0920 resistance levels.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is now gaining momentum in the bullish zone.

4 hours RSI – The RSI for TRX/USD is now above the 50 level.

Key Support Levels – $0.0870 and $0.0820.

Key Resistance Levels – $0.0900, $0.0920 and $0.1000.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *