Tron Price Shows Positive Signs, Could Surge Further Towards $0.10
Tron price is indicating a bullish trend above the $0.080 level against the US Dollar. TRX is outperforming Bitcoin and there are possibilities of another increase towards $0.10.
Tron (TRX) is currently on an upward movement and has surpassed the $0.080 pivot level against the US dollar. The price is trading above both the $0.080 mark and the 100 simple moving average on the four-hour chart. There is also a connecting bullish trend line forming with support near $0.0780 on the TRX/USD pair.
According to recent Tron price analysis, TRX has formed a base above the $0.0770 level and has initiated another surge. The cryptocurrency has successfully broken past the $0.080 resistance zone, performing better than Bitcoin. It even surpassed the $0.082 level, achieving a high near $0.0828. However, it is currently undergoing a correction below the 23.6% Fib retracement level.
TRX remains above the $0.080 level and the 100 simple moving average on the four-hour chart. Additionally, the bullish trend line formed with support near $0.0780 further indicates the upward movement of TRX. The immediate resistance level lies near $0.0815, with a major resistance at $0.0828. Should the price surpass these levels, it could potentially accelerate towards the next resistance level of $0.085. A close above this resistance may lead TRX even higher towards the major resistance level at $0.092. In the coming days, the bulls may aim for a larger increase with the key $0.10 zone as the goal.
On the other hand, if TRX fails to clear the $0.0815 resistance, there is a possibility of a slow decline. Initial support lies near the $0.080 zone, followed by a major support level at $0.0792 or the 61.8% Fib retracement level. Further support can be found at $0.0780 or the trend line. A breakthrough below this level may result in an acceleration towards the next major support level at $0.0755.
Technical indicators also suggest a potential shift in momentum for TRX. The four-hour MACD is currently losing momentum in the bullish zone, while the RSI is above the 50 level.
Overall, Tron’s positive performance is evident as it continues to make strides above the $0.080 level. With the potential for further increases towards $0.10, TRX is proving to outperform Bitcoin in the current market.
Sources:
– Tron Price Analysis: https://www.newsbtc.com/analysis/trx/tron-price-prediction-trx-regains-strength-0-10/
– Bitcoin Analysis: https://www.newsbtc.com/analysis/btc/bitcoin-price-bearish-formation-26500/
– TRXUSD on TradingView.com: https://www.tradingview.com/symbols/TRXUSD/
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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