The Price of TRON (TRX) Continues to Rise Above Moving Average Lines
The price of TRON (TRX) has been consistently increasing above the moving average lines in recent months. The bullish momentum was further strengthened when the altcoin broke through the overhead resistance at $0.115 and then surpassed the subsequent hurdle at $0.126. Currently, TRON is valued at $0.131 and is attempting to break through the resistance at $0.132. If successful, the cryptocurrency is expected to reach a high of $0.15.
TRON Indicator Reading
TRON has been making new highs as its price continues to rise above the moving average lines. The moving average lines show a strong upward trend without any signs of slipping down. As long as the price bars remain above these moving average lines, the upward trend is expected to continue.
Technical Indicators
Important supply zones for TRON include $0.09, $0.10, and $0.11, while important demand zones are at $0.06, $0.05, and $0.04.
The Next Direction for TRON
On the 4-hour chart, TRON encountered resistance at the $0.132 level and is currently trading below its recent high. Long candlestick wicks suggest significant selling pressure as prices rise. The cryptocurrency is now approaching the moving average lines and if it finds support above this level, the uptrend is likely to resume.
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