Tron Price Continues to Rise
The price of Tron (TRX) is showing strength as it moves above the $0.122 resistance level against the US dollar. It is currently trading above $0.1350 and the 100 simple moving average (4 hours).
Bullish Trend Line and Support
A key bullish trend line is forming with support at $0.1382 on the 4-hour chart of the TRX/USD pair. This indicates that there is strong support for Tron’s price movement.
Potential for Higher Climb
Based on recent trends, the TRX/USD pair could continue to climb higher, potentially reaching levels around $0.165 or even $0.180.
Resistance Levels to Watch
The first major resistance level for Tron is near $0.1400, followed by $0.1420. If the price breaks these levels, it could accelerate further upward movement towards $0.1650 and even $0.180.
Dips Supported in TRX?
In case of a downside correction, initial support can be found near the $0.1380 zone and the trend line. Further support levels include $0.1350 and $0.1320.
Technical Indicators
The MACD indicator for TRX/USD is gaining momentum in the bullish zone, while the RSI (Relative Strength Index) is currently above 50, indicating positive market sentiment.
Hot Take: Tron Price Shows Strength with Potential for Further Upside
Tron’s price has been steadily rising, surpassing key resistance levels and maintaining above the 100 simple moving average. With a bullish trend line and strong support, Tron has the potential to continue its upward climb towards $0.165 or even $0.180. However, if there is a downside correction, there is support near $0.1380 and $0.1350. Overall, Tron’s price movement indicates a positive outlook for the cryptocurrency.
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