Tron Price Continues to Rise
Despite Bitcoin and Ethereum experiencing a major rejection, Tron’s price has remained stable above the $0.1100 support level. Although there was a slight correction, Tron is now moving higher and trading above $0.1120.
There was a break above a key contracting triangle with resistance at $0.1126, indicating further upward movement. The bulls are currently protecting the $0.1125 support zone and the 100 simple moving average (4 hours).
Resistance Levels and Potential Upside
If Tron manages to clear the initial resistance at $0.1140, it could accelerate higher towards $0.1150 and even $0.1165. A close above the $0.1165 resistance might push TRX further towards $0.1200.
If TRX fails to break the $0.1140 resistance, it could initiate a downside correction. Initial support lies near the $0.1120 zone, followed by the major support levels at $0.1100 and $0.1085.
Technical Indicators
The MACD for TRX/USD on the 4-hour chart is gaining momentum in the bullish zone, indicating potential further upside movement. The RSI for TRX/USD is currently above the 50 level.
Hot Take: Tron’s Price Holds Strong Amidst Market Volatility
While Bitcoin and Ethereum face rejection, Tron’s price has remained resilient, maintaining stability above key support levels. With a break above a contracting triangle and strong support from bulls, TRX has the potential to continue its climb towards $0.1165 or even reach $0.1200.
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