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Tron price performed really well recently and climbed above the $0.0285 and $0.0300 resistances. TRX is placed in a solid uptrend and it could extend gains versus the USD and bitcoin.

  • Tron price formed a support base above $0.0245 and rallied above $0.0300.
  • There is a new bullish breakout pattern forming with support near $0.0295 on the 2-hours chart.
  • TRX price is likely to remains supported and it could climb again above $0.0315 and $0.0325.

Tron TRX Price

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Tron Price Analysis (TRX to USD)

This week, there was the start of a strong upward move in tron price above the $0.0250 resistance area against the US dollar. TRX price is up more than 10% and it recently traded above the $0.0315 resistance area.

Tron Price Analysis TRX Chart

Click to Enlarge Chart

Looking at the 2-hours chart of TRX/USD, the pair started a strong rise from the $0.0255 swing low. It broke the $0.0262 and $0.0285 resistance levels to move into an uptrend. Later, the price struggled to break the $0.0295 and $0.0300 resistance levels.

However, buyers finally had the upper hand and the price broke the $0.0300 resistance area. There was even a close above the $0.0300 level and the 25 simple moving average (2-hours).


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The price climbed above the $0.0315 resistance and it recently traded to a new multi-month high at $0.0320. It is currently correcting gains and traded below the 50% Fib retracement level of the latest ride from the $0.0277 low to $0.0320 high.

However, the $0.0295 support and the 25 simple moving average (2-hours) acted as a solid support. Besides, there was no close below the 61.8% Fib retracement level of the latest ride from the $0.0277 low to $0.0320 high.

At the outset, there is a new bullish breakout pattern forming with support near $0.0295 on the same chart. As long as TRON is trading above the $0.0295 support level, there are chances of a fresh rise above the $0.0315 and $0.0320 levels.

On the other hand, if TRX price declines below the $0.0295 support, it could revisit the $0.0277 swing low. In the mentioned case, tron price may even test the $0.0267 level, which is the 1.236 Fib extension level of the latest ride from the $0.0277 low to $0.0320 high.

The market data is provided by TradingView, Binance.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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