Tron Price Poised for Upside Movement
As Bitcoin and Ethereum experience a slight decline, Tron has managed to sustain itself above the $0.1300 support level. Investors are eyeing a potential rally as TRX price shows signs of strength in the market.
Positive Price Action for TRX
• Tron price breaks above the $0.1320 resistance zone.
• The 50% Fib retracement level is surpassed, indicating a bullish trend.
• TRX is now above $0.1320 and the 100-hourly simple moving average.
• A bullish trend line with support at $0.1330 has formed on the hourly chart of TRX/USD.
With these positive indicators in play, TRX is likely to continue its upward trajectory. The next steps for the coin are crucial in determining its future movement.
Potential Upside Targets for TRX
• TRX may climb higher towards $0.1380 and potentially target $0.1420.
• A breakout above $0.1380 could pave the way for further gains towards $0.1400 and even $0.1420.
• The bulls are keen on breaching the $0.1420 resistance level to push TRX towards $0.1450.
Support Levels and Corrections
Should TRX face a correction, support levels play a crucial role in stabilizing the price.
• Initial support is at $0.1335, followed by a major support at $0.1320.
• Further downside may test $0.1310, with a potential drop to $0.1300 in the near future.
Technical Indicators for TRX
• The hourly MACD shows positive momentum for TRX/USD in the bullish territory.
• Hourly RSI is above the 50 level, reflecting positive investor sentiment towards TRX.
• Key support levels to watch are $0.1355 and $0.1320, with resistance levels at $0.1350 and $0.1380.
Hot Take: Tron’s Potential for Growth
Tron’s recent price action suggests a bullish momentum, with indicators pointing towards a potential breakout. As the market dynamics shift, TRX is well-positioned to capitalize on the positive sentiment and target higher price levels. Keep a close watch on key resistance levels as TRX aims for further gains in the coming sessions.
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