Tron (TRX) Price Soars: Rally Could Reach $0.08!

• Tron (TRX) price started a fresh increase from the $0.0710 level against the US Dollar.
• TRX is facing resistance near the $0.0795 level, and it could continue to move up if it breaks this resistance zone.
• The next major support is forming near $0.0732 or the 50% Fib retracement level of the upward move from the $0.0668 swing low to the $0.0798 high.

Tron Price Analysis

Tron price started a fresh increase from the $0.0710 level against the US Dollar, outpacing Bitcoin. TRX’s price could rise further if it clears the $0.0795 resistance zone and close above $0.080 which could send it toward $0.0825 resistance zone or even higher towards $0.085 and possibly even beyond that towards 0$088 in gains.

Resistance & Support Levels

On the upside, TRX is facing resistance near the $0.0795 level while initial support on downside lies near at 23,6% Fib retracement level of upward move from 0$0680 swing low to 0$0798 high at around 0$726 level and there’s also a major bullish trend line forming with support near 0$742 on 4-hour chart (data feed via Kraken). The next major support is now forming near 0$732 or 50% Fib retracement level of upward move from 0$0680 swing low to 0$798 high.

Technical Indicators

The MACD for TRX/USD is now gaining momentum in bullish zone while RSI for TRX/USD is above 50 levels indicating further increase in prices.

Conclusion

Overall, Tron’s price could continue to move up if it breaks above resistance at around 0$795 levels as technical indicators are indicating further surge in prices of TRON.

Risk Disclaimer

Trading cryptocurrencies involves significant risk and can result in loss of your capital invested so you should not invest more than you can afford to lose and you should be aware that prices may drop at any given moment resulting in loss of capital.<