Tron price started a fresh increase from the %excerpt%.0540 support zone against the US Dollar. TRX price is now trading above the %excerpt%.0650 support and the 55 simple moving average (4-hours). There was a break above a major contracting triangle with resistance near %excerpt%.0670 on the 4-hours chart (data feed via Bitfinex). The pair is likely to accelerate higher if it clears the %excerpt%.0690 and %excerpt%.0700 resistance levels in the near term. TRON price is trading in a positive zone above %excerpt%.0650 against the US Dollar, similar to bitcoin. TRX price must remain above %excerpt%.0615 to continue higher in the near term. Tron Price Analysis After forming a support base near %excerpt%.0550, tron price started a fresh increase against the US Dollar. TRX price broke the %excerpt%.0580 and %excerpt%.0600 resistance levels.
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Trading, TRON, trx
This could be interesting, too:
Emily John writes GRVT Launches Alertatron Trading Event and Airdrop Before TGE
Bilal Hassan writes Coinbase Expands in Nigeria with Onboard Global Partnership
Guest User writes XRP Price Faces Potential Drop: Leading KOL Warns of Imminent Correction with TD Sequential Sell Signal!
Bilal Hassan writes Bitget Expands in South Africa with Callpay Integration
- Tron price started a fresh increase from the $0.0540 support zone against the US Dollar.
- TRX price is now trading above the $0.0650 support and the 55 simple moving average (4-hours).
- There was a break above a major contracting triangle with resistance near $0.0670 on the 4-hours chart (data feed via Bitfinex).
- The pair is likely to accelerate higher if it clears the $0.0690 and $0.0700 resistance levels in the near term.
TRON price is trading in a positive zone above $0.0650 against the US Dollar, similar to bitcoin. TRX price must remain above $0.0615 to continue higher in the near term.
Tron Price Analysis
After forming a support base near $0.0550, tron price started a fresh increase against the US Dollar. TRX price broke the $0.0580 and $0.0600 resistance levels.
The price even broke the $0.0650 resistance level and settled well above the 55 simple moving average (4-hours). There was also a break above a major contracting triangle with resistance near $0.0670 on the 4-hours chart.
The pair traded as high as $0.0690 and it is currently correcting lower. It tested the 23.6% Fib retracement level of the upward move from the $0.0619 low to $0.0690 high. The first key support on the downside is near the $0.0655 and $0.0650 levels.
The 50% Fib retracement level of the upward move from the $0.0619 low to $0.0690 high is also near the $0.0655 level to provide support. If there are more losses, tron price could decline towards the $0.0620 support zone
The 55 simple moving average (4-hours) is also near $0.0620 to provide support. On the upside, the $0.0690 and $0.0700 levels are key hurdles. A clear break above the $0.0700 level may possibly open the doors for a move towards the $0.0800 level. Any more gains might call for a steady increase towards the main $0.1000 barrier it the coming days.
Tron (TRX) Price
The chart indicates that TRX price is clearly trading above the $0.0550 support and the 55 simple moving average (4-hours). Overall, the price is likely to accelerate higher if it clears the $0.0690 and $0.0700 resistance levels in the near term.
Technical Indicators
4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bullish zone.
4 hours RSI – The RSI for TRX/USD is well above the 50 level.
Key Support Levels – $0.0550 and $0.0520.
Key Resistance Levels – $0.0690, $0.0700 and $0.0800.