18. abril 2024

TRON (TRX) Price Analysis: Bullish Break Signals More Gains

• Tron (TRX) price started a fresh increase from the $0.0670 level against the US Dollar.
• TRX’s price is now trading above the $0.0680 and the 55 simple moving average (4 hours).
• The pair could continue to move up if it breaks the $0.070 resistance zone.

Tron Price Analysis

Tron price started a fresh increase from the $0.0670 level against the US Dollar, outperforming Bitcoin. There is a major bullish trend line forming with support near $0.0685 on the 4-hours chart, and TRX’s price could rise further if it clears the $0.070 resistance zone.

Resistance Levels

TRX’s price is facing resistance near the $0.0695 level, followed by a major resistance at around $0.070 and then again at around$ 0.0725 should there be further gains in price movement of Tron (TRX).

Support Levels

Initial support for TRON is near the $0.0685 level, where there is a major bullish trend line forming with support near this area on 4-hours chart data feed via Kraken). The next major support lies at around $ 0 .0670 or 50% Fib retracement level of an upward movement from swing low to swing high which was from from $ 0 .0640 to$ 0 .0699 respectively.. And finally should there be more losses, it may reach to as low as towards$ 0 .0625 in short term future movements of this cryptocurrency market value variation..

Technical Indicators

The MACD for TRX/USD is now gaining momentum in the bullish zone while RSI for TRX/USD is above 50 showing positive signs of growth in terms of investors sentiment towards this crypto token asset class..

Conclusion

Overall, Tron (TRX) seems to be on an uptrend due to its recent increase from key levels against US dollar making it attractive among traders and investors alike, who are willing to invest their capital into cryptocurrencies such as this one.. If it breaks past key levels like mentioned above such as clearing outthe 0 .070 resistance zone then it can rise even higher towards reaching its all time highs again or even beyond that which will make sure that investor sentiment remain positive regarding this cryptocurrency asset class as well..