TRON Price Analysis: Bullish Forecast and Indicator Reading
TRON (TRX) has regained positive momentum after breaking above the moving average lines. The long-term forecast for TRONโs price is bullish, with the cryptocurrency expected to continue rising and approach its previous highs. Here are key points to consider:
Key Forecast Points
- TRON is currently in a slight retracement after rejecting its previous high.
- The first barrier to the uptrend is at $0.124.
- For the uptrend to continue, TRON needs to retrace and stay above the 50-day SMA.
- TRON is projected to resume its uptrend and reclaim previous highs of $0.14 and $0.144.
- If TRON retraces and closes below the 50-day SMA, it may enter a negative trend zone and reach a low of $0.11.
TRON Indicator Reading
Technical analysis shows that TRON has broken the moving average lines, indicating a continued upward movement for the cryptocurrency. Here are some key technical indicators:
Key Supply and Demand Zones
- Important supply zones: $0.09, $0.10, $0.11
- Important demand zones: $0.06, $0.05, $0.04
Next Move for TRON
TRONโs uptrend is set to continue as it challenges the first obstacle at $0.124. If buyers successfully break through this resistance level, TRON will likely test its recent high of $0.14, signaling further positive momentum for the cryptocurrency.
Hot Take: TRON on a Bullish Path
With TRONโs price analysis showcasing a bullish forecast and the cryptocurrency showing signs of upward momentum, investors may want to keep a close eye on TRONโs performance in the coming days as it aims to reclaim previous highs and potentially enter a positive trend zone.
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