TRON (TRX) Price Analysis: What to Expect Next 🚀
TRON (TRX) is currently experiencing a slight retracement above the 21-day SMA support after reaching a high of $0.14 earlier.
Long-term Outlook for TRON Price: Bullish 📈
TRON saw a peak of $0.144 on February 27 but struggled to maintain its upward momentum. Buyers attempted to push the altcoin to the same price level but were unable to surpass the previous high.
However, TRON has now resumed its uptrend after retracing above the moving average lines. The trajectory will remain positive if the 21-day SMA support holds. If the resistance at $0.144 is breached, TRON could reach $0.16. Conversely, a breakdown below the 21-day SMA support may lead to a range-bound movement between $0.11 and $0.14. Currently, TRX/USD is trading at $0.134.
TRON Indicator Analysis 📊
TRON has been exhibiting a bullish trend since June 9, with the price bars consistently above the moving average lines. As long as this pattern persists, the positive momentum is likely to continue. However, a breach of the 21-day SMA support could signal a potential trend reversal.
What’s Next for TRON?
On the 4-hour chart, TRON is currently bearish below the moving average lines. The price decline has eased above the $0.134 support level, indicating a possible stabilization. TRON is currently trading within the moving average range and could resume its upward trajectory once it surpasses the 50-day SMA.
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