Tron is now trading above the US Dollar $0.1250 level. TRX has outperformed Bitcoin and may rise above $0.1320.
- Tron continues to rise above resistance at $0.1280 per US dollar.
- Price is above the simple 100-hour moving average and $0.130.
- The hourly chart for the TRX/USD pairs shows a strong bullish line with support near $0.1305. source Kraken is a good example.
- It is possible that the pair will continue to increase in value, possibly reaching $0.1335 and even $0.1350.
Tron Price Sees Even More Benefits
Recently, Bitcoin You can also find out more about the following: Ethereum The price of Tron fell below the $0.1250 support and then again, to $2.700. Tron’s price, however, remained above the $0.1250 level of support. It also climbed.
A decent movement was seen above the resistance area of $0.1300. TRX even touched the $0.1315 price level. The price has shown signs of further upsides. A new high was formed at $0.1314. A key bullish line is also developing with support at $1.305 on the hourly graph of the TRX/USD.
The trendline is near the level where the Fib retracement of the move upward from the swing low $0.1256 to the high $0.1314 was 23.6%. Price is trading now above the 100-hour simple moving average and $0.1300. The initial resistance level is around $0.1320.
First major resistance near $0.1332 is where the price can accelerate higher. The price may accelerate upwards if it crosses above $0.1332. next The resistance level is at $0.1350. If TRX closes above $0.1350, it could push the price higher to $0.1400. If TRX closes above the $0.1350 resistance, it could move higher towards $0.1400. next Major resistance lies near $0.1420, and above this level the bulls will likely aim to increase the price towards $0.1450.
Can TRX support dips?
It is possible that TRX will start to correct downwards if the resistance of $0.1320 does not break. On the downside, initial support is located near the $0.1300 region and trend line.
It could reach $0.1280 if it falls below the level $0.1285, which is the Fib 50% retracement for the move upward from the swing low of $0.1256 to the high of $0.1314. Tron may be pushed towards the $0.1265 resistance in the next sessions, if there are any more losses.
Technical Indicators
Hourly MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.
Major Support Levels – $0.1300 and $0.1285.
Major Resistance Levels – $0.1320 and $0.1350.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com