Tron price started a downside correction from the %excerpt%.0650 level against the US Dollar. TRX price is now trading above %excerpt%.0500 and near the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near %excerpt%.0535 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%.050 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the %excerpt%.055 resistance. Tron Price Analysis This month, tron price found support near the %excerpt%.0445 level against the US Dollar. TRX price formed a base above the %excerpt%.0450 level and started a fresh increase. It traded above the %excerpt%.0480 and %excerpt%.0500 resistance levels to move into a positive zone. The price
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, Trading, TRON, trx
This could be interesting, too:
Chimamanda U. Martha writes OSL Strengthens Partnership with Solomon JFZ Ahead of Hong Kong ETF Launch
Temitope Olatunji writes Japanese Metaplanet’s Purchase of Bitcoin Worth .25M Signals Growing Corporate Adoption
Godfrey Benjamin writes Here Are 3 Major Recent Cardano (ADA) Upgrades to Know
Steve Muchoki writes BNY Mellon Invests in Spot Bitcoin ETFs from BlackRock and Grayscale
- Tron price started a downside correction from the $0.0650 level against the US Dollar.
- TRX price is now trading above $0.0500 and near the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $0.0535 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 $0.050 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the $0.055 resistance.
Tron Price Analysis
This month, tron price found support near the $0.0445 level against the US Dollar. TRX price formed a base above the $0.0450 level and started a fresh increase.
It traded above the $0.0480 and $0.0500 resistance levels to move into a positive zone. The price pumped above the 23.6% Fib retracement level of the downward move from the $0.0654 swing high to $0.0445 low. It is now trading above $0.0500 and the 55 simple moving average (4-hours).
There is also a key bullish trend line forming with support near $0.0535 on the 4-hours chart. On the upside, TRX is facing resistance near the $0.0550 level. It is near the 50% Fib retracement level of the downward move from the $0.0654 swing high to $0.0445 low.
The first major resistance is near the $0.0575 level. A close above $0.0575 is must for a fresh increase. In the stated case, the price could rise towards the $0.0650 resistance in the near term.
On the downside, an initial support is near the $0.0530 level and the trend line zone. The next major support is now forming near $0.0520 and the 55 simple moving average (4-hours). 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 $0.0445 zone in the near term.
Tron (TRX) Price Analysis
The chart indicates that TRX price is now trading above $0.050 and near 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 – $0.0550, $0.0575 and $0.0650.