Tron’s price has been gaining momentum above the resistance level of $0.1220 versus the US Dollar. TRX has outperformed Bitcoin and may rise even higher than $0.1250.
- Tron continues to rise above the resistance level of $0.120 per US dollar.
- The 100 Simple Moving Average (4 Hours) and the price are trading at or above $0.1220.
- On the TRX/USD 4-hour chart, there was a breakout above the key trendline with resistance of $0.120 (data). source Kraken is a good example.
- This pair may continue to rise towards $0.1275 and even $0.1320.
Tron Price Regains Strength
Recently, Bitcoin The following are some examples of how to get started: Ethereum Below $63,500, and below $3100. Tron’s price, however, stayed stable and even rose above $0.1180.
The resistance level of $0.120 was broken. TRX cleared the 50 percent Fib level for the move downward from the $0.1239 high swing to the $0.1181 bottom. The TRX/USD chart 4-hour showed a breakout above a major bearish trend line that had resistance at $0.120.
Tron is currently trading at a price above the $100 simple moving average (4 hour). Initial resistance near $0.1250 is a level of initial support.
Source: TRXUSD on TradingView.com
First major resistance near $0.1275, or the 1.618 fib extension of the downward movement from the $0.1239 high swing to the $0.1181 bottom. If the price rises above this level the price will accelerate. The price could accelerate higher if it surpasses the first major resistance near $0.1275 or the 1.618 Fib extension level of the downward move from a swing high at $0.1239 to a low at $0.1181. next Resistance is around $0.1320. If TRX closes above $0.1320, it could move higher to $0.1365. A close above the $0.1320 support might send TRX further higher toward $0.1365. next The major resistance level is around $0.140. Above this, bulls may aim higher towards $0.150.
Do Dips Work in TRX Support?
It is possible that TRX will start to correct downwards if the price does not clear $0.1250. Support for TRX price on the downside starts near $0.1220.
If it falls below $0.1195, then Tron could reach $0.1180. Tron may reach $0.1150 in future sessions if there are any more losses.
Technical Indicators
4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.
Major Support Levels – $0.1220, $0.1195, and $0.1180.
Major Resistance Levels – $0.1250, $0.1275, and $0.1320.
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Source: www.newsbtc.com