Friday , March 29 2024
Home / Altcoins / Tron (TRX) Price Analysis: Trend Turns Bullish Above $0.065

Tron (TRX) Price Analysis: Trend Turns Bullish Above $0.065

Summary:
Tron price started a fresh increase from the %excerpt%.055 level against the US Dollar. TRX price is now trading above %excerpt%.06 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near %excerpt%.066 on the 4-hours chart (data feed via Kraken). The pair could continue to move up if it breaks the %excerpt%.070 resistance zone. TRON price started a fresh increase above %excerpt%.062 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the %excerpt%.070 resistance. Tron Price Analysis In the past few sessions, tron price started a decent increase from the %excerpt%.055 support zone against the US Dollar. TRX price remained well bid and started a decent increase above the %excerpt%.060 zone. It traded above the %excerpt%.0620 and %excerpt%.0625

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

This could be interesting, too:

Aayush Jindal writes Bitcoin Cash Analysis: Bulls Aim For 0 or Higher

Chayanika Deka writes USDT Transaction Volume Soars on TRON DAO, Hits 2 Million Daily

Steve Muchoki writes Masa Network Integrates with LayerZero to Power Its Cross-chain AI Data Network

Bena Ilyas writes US and UK Investigate B Crypto Transactions Tied to Russia amid Sanction Escalation

  • Tron price started a fresh increase from the $0.055 level against the US Dollar.
  • TRX price is now trading above $0.06 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.066 on the 4-hours chart (data feed via Kraken).
  • The pair could continue to move up if it breaks the $0.070 resistance zone.

TRON price started a fresh increase above $0.062 against the US Dollar, similar bitcoin. TRX price could rise further if it clears the $0.070 resistance.

Tron Price Analysis

In the past few sessions, tron price started a decent increase from the $0.055 support zone against the US Dollar. TRX price remained well bid and started a decent increase above the $0.060 zone.

It traded above the $0.0620 and $0.0625 resistance levels to move into a positive zone. Besides, there was a break above a major bearish trend line with resistance near $0.066 on the 4-hours chart. The pair settled above the 50% Fib retracement level of the downward move from the $0.07025 swing high to $0.0551 low.

The price is now trading above $0.06 and the 55 simple moving average (4-hours). It is also above the 76.4% Fib retracement level of the downward move from the $0.07025 swing high to $0.0551 low.

On the upside, TRX is facing resistance near the $0.0685 level. The next major resistance is near the $0.0700 level. A close above $0.0700 could send the price towards the $0.0720 resistance zone. Any more gains might send trx price towards $0.075.

On the downside, an initial support is near the $0.0660 level or the broken trend line zone. The next major support is now forming near $0.0640 and the 55 simple moving average (4-hours).

If there is a downside break below the $0.0640 support, the price might revisit the $0.060 support. Any more losses might call for a move towards the $0.0550 zone in the near term.

Tron (TRX) Price Analysis: Trend Turns Bullish Above $0.065

Tron (TRX) Price

The chart indicates that TRX price is now trading above $0.062 and the 55 simple moving average (4-hours). Overall, the price could continue to move up if it breaks the $0.070 resistance zone.

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 above the 50 level.

Key Support Levels – $0.0660 and $0.0620.

Key Resistance Levels – $0.0700, $0.0720 and $0.075.

Tags: ,

Leave a Reply

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