Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
- Tron price started a fresh downside correction from the $0.0855 zone against the US Dollar.
- TRX price is now trading above $0.0770 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.0777 on the 4-hour chart (data feed via Kraken).
- The pair could continue to move down if it breaks the $0.0768 support zone.
TRON price started a fresh decline below the $0.0820 zone against the US Dollar, similar to Bitcoin. TRX price could accelerate lower if there is a move below $0.0768.
Tron Price Analysis
This past week, Tron price started a steady increase above the $0.0750 resistance level against the US Dollar. TRX price struggled to gain pace for more gains and formed a top near $0.0855.
The price started a fresh decline below the $0.0820 level. There was a move below the 50% Fib retracement level of the upward move from the $0.0741 swing low to the $0.0856 high. However, the bulls were active near the $0.0770 level.
There is also a key bullish trend line forming with support near $0.0777 on the 4-hour chart. The price is now trading above $0.0770 and the 55 simple moving average (4 hours). On the upside, TRX is facing resistance near the $0.0800 level.
The first major resistance is near the $0.082 level. A close above $0.082 is a must for a fresh increase. In the stated case, the price could rise toward the $0.0855 resistance in the near term.
On the downside, initial support is near the $0.0777 level and the trend line. The next major support is now forming near $0.0768. It is near the 76.4% Fib retracement level of the upward move from the $0.0741 swing low to the $0.0856 high.
If there is a downside break below the $0.0768 support, the price might revisit the $0.0720 support. Any more losses might call for a move toward the $0.0700 zone in the near term.
The chart indicates that TRX price is now trading above $0.0770 and near the 55 simple moving average (4 hours). Overall, the price could continue to move down if it breaks the $0.0768 support zone.
Technical Indicators
4 hours MACD – The MACD for TRX/USD is slowly losing momentum in the bearish zone.
4 hours RSI – The RSI for TRX/USD is above the 50 level.
Key Support Levels – $0.0768 and $0.0720.
Key Resistance Levels – $0.080, $0.082, and $0.0855.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.livebitcoinnews.com/tron-trx-price-analysis-key-uptrend-support-intact/
- :is
- $3
- $UP
- 28
- 50
- 7
- a
- above
- accelerate
- active
- against
- also
- analysis
- and
- any
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Bonus
- Break
- breaks
- Bullish
- Bulls
- call
- case
- Chart
- Close
- COM
- comments
- continue
- could
- data
- Decline
- Dollar
- down
- downside
- end
- facing
- First
- follow
- For
- formed
- fresh
- fresh increase
- from
- Gain
- Gains
- get
- High
- HOURS
- However
- HTTPS
- if
- in
- Increase
- indicates
- initial
- internal
- IT
- Key
- Kraken
- Level
- levels
- Line
- live
- Live Bitcoin News
- logo
- losing
- losses
- Low
- lower
- MACD
- major
- might
- Momentum
- more
- move
- moving
- moving average
- must
- Near
- news
- next
- now
- of
- on
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- Post
- price
- Price Analysis
- Referral
- Resistance
- retracement
- Rise
- rsi
- sign
- similar
- Simple
- Slowly
- started
- stated
- support
- support levels
- Swing
- TAG
- term
- that
- The
- There.
- to
- top
- toward
- Trading
- TradingView
- Trend
- TRON
- TRON (TRX)
- TRX
- TRX Price
- Upside
- uptrend
- upward
- us
- US Dollar
- via
- was
- week
- were
- with
- Your
- zephyrnet