- Tron’s price is trading in a positive zone above $0.0160
- The price of TRX is facing a short-term hurdle near $0.0172
- There was a break out of a crucial contracting triangle at $0.0152
Tron News Today – the price of Tron might accelerate even higher to the $0.0185 and $0.0200 areas if it breaks out of the $0.0200 area. The price of Tron is gaining bullish momentum against the USD just like Bitcoin. The TRX price is possibly going to surpass the $0.0175 area and continue moving higher until it reaches the $0.0200 level.
The coin began the day in a positive zone above the $0.160. It’s closest short-term hurdle seats at $0.0172. Besides Tron also had a break out of an important contracting triangle at the $0.0152 position.
Tron’s Price Bullish Seating Above $0.0145 and $0.0150
In the last few days, the price of Tron has followed a bullish path and is seating above $0.0145 and $0.0150 both of which are resistances. Tron’s price even settled above the $0.0155 area and the 55-day SMA via the 4-hour chart. During this rise, there was also a break above the crucial contracting triangle at $0.0152 via the 4-hour chart. The coins’ price is now trading above $0.0165 comfortably. It is testing the $0.0172 resistance.
There is initial support near $0.0166. It is near the 23.6% Fib retracement level via the recent rise from $0.0154 to $0.0171. If there are additional downsides, the Tron price could test the $0.0162 position. The 50% Fib retracement level via the recent rise from $0.0154 to $0.0171 will likely to act as support. The key uptrend support area can be seen near $0.0155 which is the last major breakout area.
Further Losses Could Take TRX Price to $0.0152
If the digital asset posts any further losses, it could lead its price towards the $0.0152 area which is a support point or the 55-day SMA via the 4-hours chart. Conversely, the price of TRX will continue moving higher above $0.0172. An initial hurdle on the upside seats at the $0.0180 position. The first key resistance is the $0.0188 level. Above this position is the place where the bulls will likely aim to test the all-important $0.0200 resistance.
The chart shows that the TRX price is now trading in a strong bullish area seating above $0.0165. This means there are chances of sustained upward price action to the $0.0188 and $0.0200 resistances. If this doesn’t happen, then dips to the $0.0155 support could find solid buying interest in the near-term outlook.
Tron has been known for its series of controversy even though these events have not impacted the price of TRX.