Tron price started a downside correction from the %excerpt%.0550 level against the US Dollar. TRX price is now trading below %excerpt%.0535 and the 55 simple moving average (4-hours). There was a break above a declining channel with resistance near %excerpt%.0532 on the 4-hours chart (data feed via Kraken). The pair could continue to move up if it breaks the %excerpt%.055 resistance zone. TRON price started a fresh increase above %excerpt%.052 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the %excerpt%.055 resistance. Tron Price Analysis This past month, tron price started a decent increase from the %excerpt%.045 zone against the US Dollar. TRX price formed a base above the %excerpt%.0450 level and started a fresh increase. It traded above the %excerpt%.0500 and %excerpt%.0520 resistance levels to move into a positive
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Trading, TRON, trx
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
- Tron price started a downside correction from the $0.0550 level against the US Dollar.
- TRX price is now trading below $0.0535 and the 55 simple moving average (4-hours).
- There was a break above a declining channel with resistance near $0.0532 on the 4-hours chart (data feed via Kraken).
- The pair could continue to move up if it breaks the $0.055 resistance zone.
TRON price started a fresh increase above $0.052 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the $0.055 resistance.
Tron Price Analysis
This past month, tron price started a decent increase from the $0.045 zone against the US Dollar. TRX price formed a base above the $0.0450 level and started a fresh increase.
It traded above the $0.0500 and $0.0520 resistance levels to move into a positive zone. The price even moved above the 55 simple moving average (4-hours), but the bulls were active near the $0.055 zone. A high was formed near $0.0551 before there was a downside correction.
There was a move below the $0.0535 level and the 55 simple moving average (4-hours). The price declined below the 23.6% Fib retracement level of the upward move from the $0.0488 swing low to $0.055 high.
It is now trading below $0.0535 and the 55 simple moving average (4-hours). Besides, there was a break above a declining channel with resistance near $0.0532 on the 4-hours chart. On the upside, TRX is facing resistance near the $0.0535 level.
The first major resistance is near the $0.055 level. A close above $0.055 is must for a fresh increase. In the stated case, the price could rise towards the $0.0620 resistance in the near term.
On the downside, an initial support is near the $0.0525 level. The next major support is now forming near $0.0520. It is near the 50% Fib retracement level of the upward move from the $0.0488 swing low to $0.055 high. If there is a downside break below the $0.0520 support, the price might revisit the $0.0500 support. Any more losses might call for a move towards the $0.0450 zone in the near term.
Tron (TRX) Price
The chart indicates that TRX price is now trading below $0.0535 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it breaks the $0.055 resistance zone.
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 above the 50 level.
Key Support Levels – $0.0520 and $0.0500.
Key Resistance Levels – $0.0535, $0.055 and $0.0620.