TRON (TRX) Price Analysis: Will the Bullish Trend Continue?
The price of TRON (TRX) has surged above the $0.11 support level and broken through the moving average lines. Here is a detailed analysis of the current price action and potential future movements for TRON.
Long-term Forecast for TRON Price: Bullish π
– TRON is expected to rise to its previous high of $0.127, with initial resistance at $0.123.
– The recent upward trend was hindered by resistance at $0.123, but if bulls break through, the market could reach $0.127.
TRON Indicator Reading π
– TRON’s price bars have been on the rise after being trapped between moving average lines.
– The altcoin’s uptrend has paused as it experiences a slight correction, but it is still above the moving average lines.
Technical Indicators π
– Important supply zones for TRON: $0.13, $0.14, $0.15
– Important demand zones for TRON: $0.10, $0.09, $0.08
What’s Next for TRON? π
– TRON is currently in an uptrend on the 4-hour chart, breaking through resistance at $0.118.
– The altcoin faces little resistance beyond $0.120 and will continue its uptrend if it retraces above the moving average lines.
Hot Take: Stay Alert for TRON’s Continued Bullish Momentum! π¨
In conclusion, TRON’s price action indicates a potential bullish trend continuation, with resistance levels at $0.123 and $0.127. Keep an eye on technical indicators and price movements for TRON to make informed trading decisions in the cryptocurrency market.
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