• Tron price started a fresh rally from the $0.1000 support zone against the US Dollar.
  • TRX price is now trading above the $0.1200 support and the 55 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.1365 on the 4-hours chart (data feed via Bitfinex).
  • The pair is likely to resume higher unless there are more downsides towards the $0.1000 support.

TRON price is trading in a positive zone above $0.1200 against the US Dollar, similar to bitcoin. TRX price is likely to continue higher above the $0.1500 resistance zone in the near term.

Tron Price Analysis

In the past few days, there was a steady increase in tron price above the $0.1000 and $0.1050 resistance levels against the US Dollar. TRX price cleared many hurdles near $0.1200 to move further into a bullish zone.

Finally, there was a break above the $0.1500 resistance zone. A new multi-week high was formed near $0.1562 before the price started a downside correction. There was a break below the $0.1500 and $0.1450 support levels.

A low is formed near $0.1320 and the price is currently consolidating. It is trading near the 23.6% Fib retracement level of the recent decline from the $0.1562 high to $0.1320 low. It is still trading above the $0.1200 support and the 55 simple moving average (4-hours).

There is also a major bullish trend line forming with support near $0.1365 on the 4-hours chart. An initial resistance on the upside is near the $0.1450 level. It is near the 50% Fib retracement level of the recent decline from the $0.1562 high to $0.1320 low.

The next major resistance is near the $0.1500 level, above which the price is likely to accelerate higher towards $0.1650 and $0.1680. Conversely, there might be a downside break below the trend line and $.1350.

The next major support is near the $0.1250 level and the 55 simple moving average (4-hours). Any more losses might call for a test of the $0.1200 level.

Tron (TRX) Price

Tron (TRX) Price

The chart indicates that TRX price is clearly trading above the $0.1200 support and the 55 simple moving average (4-hours). Overall, the price is likely to resume higher unless there are more downsides towards the $0.1000 support.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bullish zone.

4 hours RSI – The RSI for TRX/USD is still above the 50 level.

Key Support Levels – $0.1350 and $0.1250.

Key Resistance Levels – $0.1450, $0.1500 and $0.1650.

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