The Potential Future of TRON (TRX) Price Movement 🚀
TRON (TRX) has been making significant gains, with the price approaching $0.18. The price prediction indicates a bullish trend, with indicators suggesting further upward movement.
Positive Long-term Outlook for TRX Price 💹
- The price of TRON has shown signs of a potential reversal, with a retraced candlestick body testing the 78.6% Fibonacci retracement line during an upswing on August 22.
- Analysts predict that TRON will rise and could reach the 1.272 Fibonacci extension level at $0.179 before experiencing a retracement.
- The altcoin has retraced but is currently holding above the $0.158 support level. A sustained support at $0.15 could initiate an uptrend.
Current TRX Indicator Analysis 📊
The latest indicators show that TRON’s price bars are still above the moving average lines, indicating an upward trend. However, on the 4-hour chart, the price bars are oscillating between the moving average lines, suggesting a sideways trend.
Key Technical Indicators for TRX 📈
- Key Supply Zones: $0.13, $0.14, $0.15
- Key Demand Zones: $0.10, $0.09, $0.08
What’s on the Horizon for TRON?
TRON is currently trading below the $0.17 resistance level, indicating a potential continuation of a sideways trend in the coming days. The presence of doji candlesticks has limited price movement, and a decline may occur if the price falls below the moving average lines.
Recent reports on August 21 suggested that TRON’s sideways pattern was broken, with bulls successfully surpassing the overhead resistance at $0.144.
Hot Take: Trust in TRON’s Growth Potential 🚀
As TRON (TRX) continues to show promising signs of growth, investors are keeping a close eye on its price movements. With a strong support level at $0.15 and indicators pointing towards a bullish trend, TRON’s future looks bright. Stay tuned for further developments as TRON navigates through the volatile cryptocurrency market.
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