HomeAltcoin NewsTron (TRX) Price Analysis: Trading Near Make-or-Break Levels

Tron (TRX) Price Analysis: Trading Near Make-or-Break Levels


  • Tron price is facing a major resistance near the $0.0155 level against the US Dollar.
  • TRX price could start a strong increase if there is a clear break above the $0.0155 barrier.
  • There is a key contracting triangle forming with resistance near $0.0155 on the 4-hours chart (data feed via Bitfinex).
  • The price also dive significantly if it fails to stay above the $0.0148 support zone.

TRON price is showing positive signs against the US Dollar, similar to bitcoin. However, TRX price must gain pace above the $0.01550 level to continue higher in the near term.

Tron Price Analysis

This past week, TRON price found support near the $0.0135 level and started a fresh increase against the US Dollar. TRX price surpassed a couple of key hurdles near $0.0148 to enter a positive zone.

Besides, there was a close above the $0.0150 level and the 55 simple moving average (4-hours). However, the price seems to be facing a major hurdle near the $0.0155 level (the last breakdown zone).

A high is formed near $0.0155 and the price is currently consolidating in a range. An initial support is seen near the $0.0148 level. It is close to the 23.6% Fibonacci retracement level of the recent wave from the $0.0130 low to $0.0155 high.

More importantly, there is a key contracting triangle forming with resistance near $0.0155 on the 4-hours chart. The 55 simple moving average (4-hours) is also just below the triangle support zone.

If there is a downside break below the triangle support and $0.0148, there is a risk of a fresh bearish wave. The next major support is near the $0.0140 level, below which tron price might continue to decline towards the main $0.0135 support zone.

Conversely, the price could start a strong increase above the $0.0154 and $0.0155 resistance levels. The next key resistance is near the $0.0160 level, above which the price is likely to accelerate higher towards the $0.0165 and $0.0166 resistance levels in the coming sessions. Any further gains could open the doors for a push towards the $0.0180 resistance zone.

Tron Price
Tron Price

The chart indicates that TRX price is clearly trading near make-or-break levels below the $0.0155 resistance. Therefore, it could either start a strong rally above $0.0155 or decline heavily below the $0.0148 support zone.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is likely to gain pace in the bullish zone.

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

Key Support Levels – $0.0148 and $0.0140.

Key Resistance Levels – $0.0155, $0.0160 and $0.0166.


Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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