Tron Price Outlook: Will TRX Continue to Surge Higher?
Tron has been making significant strides in the cryptocurrency market, with its price surpassing key resistance levels. If you’re a TRX investor or considering adding Tron to your portfolio, here’s a breakdown of the current price action and what to expect in the near future.
Tron Price Regains Strength π
Despite recent declines in Bitcoin and Ethereum prices, Tron managed to hold steady above the $0.1120 support level and even witnessed a notable uptrend.
- TRX surged above the $0.1150 resistance zone, marking a gain of over 3%.
- The price hit a high of $0.1170 and is now consolidating above the 23.6% Fib retracement level.
- Currently trading above $0.1160 and the 100-hourly SMA, TRX is well-positioned for further gains.
Are Dips Supported in TRX? π
As TRX continues its upward trajectory, it faces key resistance levels that could determine its next moves. Here are some crucial levels to watch out for:
- If TRX fails to break above $0.1200, a downside correction may lead to initial support at $0.1160.
- Further support levels include $0.1150 and the 100 SMA (4 hours), with a potential test at $0.1140.
- Technical indicators such as MACD and RSI suggest bullish momentum for TRX/USD.
Overall, TRX is poised for further gains if it maintains current support levels and breaks above key resistance points.
Hot Take: TRX Eyes Upside Targets π₯
Considering its recent performance, Tron’s price action indicates a strong bullish trend with the potential to reach higher levels. Keep an eye on key support and resistance zones to make informed decisions about your TRX investments in the coming days.
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