TRON Price Could Reach $0.082: Bulls Aim for Fresh Move
• Tron (TRX) price started a fresh increase from the $0.0645 level against the US Dollar, similar to Bitcoin.
• TRX’s price is now trading below $0.0750 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.0728 on the 4-hours chart.
• The pair could continue to move up if it breaks the $0.074 resistance zone and rises toward $0.082.
Tron Price Analysis
Tron price started a fresh increase from the $0.0645 level against the US Dollar, similar to Bitcoin. After a downside correction, Tron price found support near the $0.0645 zone against the US Dollar and formed a base before recently starting a fresh increase from the low of $0.06456 low . There was also a break above the 23.6% Fib retracement level of the downward move from the swing high of $0.0856 to low of 0646 low .
Resistance Levels for TRX/USD
TRX is now trading below $0.075 and its 55 simple moving average (4 hours). On its upside, TRX faces resistance near around$ 0 .0725 level and there is also major bearish trend line forming with resistance at around$ 0 .0728 on 4 hour charts(data feed via kraken ). Its next major resistance is seen at around$ 0 .074 level which also coincides with its 55 SMA (4 hour). If it manages to breach this , then we can see prices rising towards$ 0 .080 followed by$ 0 .082 in coming days or weeks .
Support Levels for TRX/USD
On downside , initial supports are seen at around$ 0 .070 levels , followed by another strong support formed at around$ 0 .682 levels as shown in charts above In case, if we see any further losses , then prices might revisit its important support level of$ 0645 which was seen earlier this month Any more losses beyond this will call for a move towards its next important support of$ 0620 in near term
The MACD for TRON/USD pair is currently gaining momentum in bullish zone while RSI lies well above 50 mark indicating positive momentum
Overall, Tron’s prices have potential to move up if it crosses over critical hurdle of$ 0740 mark convincingly and can even reach upto targets mentioned like highs close to 0880 followed by 0820 marks in due course of time