Tron price is gaining pace above $0.0780 against the US Dollar. TRX is outperforming Bitcoin and could rally further above the $0.0800 resistance.
- Tron is moving higher above the $0.0750 pivot level against the US dollar.
- The price is trading above $0.078 and the 100 simple moving average (4 hours).
- There was a break above a major contracting triangle with resistance near $0.0770 on the 4-hour chart of the TRX/USD pair (data source from Kraken).
- The pair could continue to climb higher toward $0.088 or even $0.10.
Tron Price Breaks Higher
In the last Tron price prediction, we discussed the chances of an upside break against the US Dollar. TRX remained well-bid and stable above the $0.0750 level.
It started a decent increase and broke a few key hurdles near $0.0775, outperforming Bitcoin. There was a break above a major contracting triangle with resistance near $0.0770 on the 4-hour chart of the TRX/USD pair. The pair even cleared the $0.0785 level.
A high is formed near $0.0793 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.0751 swing low to the $0.0793 high.
TRX is trading above $0.078 and the 100 simple moving average (4 hours). On the upside, an initial resistance is near the $0.0795 level. The first major resistance is near $0.080, above which the price could accelerate higher. The next resistance is near $0.088.
Source: TRXUSD on TradingView.com
A close above the $0.0880 resistance might send TRX further higher. The next major resistance is near the $0.095 level, above which the bulls are likely to aim a larger increase toward the key $0.10 zone in the coming days.
Are Dips Limited in TRX?
If TRX price fails to clear the $0.080 resistance, it could start a downside correction. Initial support on the downside is near the $0.0780 zone.
The first major support is near the $0.0770 level or the 50% Fib retracement level of the upward move from the $0.0751 swing low to the $0.0793 high, below which the price could accelerate lower. The next major support is $0.0750.
Technical Indicators
4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.
Major Support Levels – $0.0780, $0.0770, and $0.0750.
Major Resistance Levels – $0.080, $0.0880, and $0.100.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.newsbtc.com/analysis/trx/tron-price-prediction-trx-regains-strength-0-10/
- :is
- 1
- 10
- 100
- 23
- 50
- a
- above
- accelerate
- against
- aim
- an
- and
- ARE
- AS
- average
- below
- Bitcoin
- Break
- breaks
- Broke
- Bullish
- Bulls
- chances
- Chart
- clear
- climb
- Close
- coming
- consolidating
- continue
- contracting
- could
- Currently
- data
- Days
- decent
- discussed
- Dollar
- downside
- Even
- fails
- few
- First
- For
- formed
- from
- further
- gaining
- Gains
- High
- higher
- HOURS
- HTTPS
- Hurdles
- in
- Increase
- index
- initial
- IT
- Key
- Kraken
- larger
- Last
- Level
- levels
- likely
- Limited
- Low
- lower
- MACD
- major
- max-width
- might
- Momentum
- move
- moving
- moving average
- Near
- NewsBTC
- next
- now
- of
- on
- or
- outperforming
- Pace
- pair
- Pivot
- plato
- Plato Data Intelligence
- PlatoData
- prediction
- price
- Price Prediction
- rally
- relative
- relative strength index
- remained
- Resistance
- retracement
- rsi
- send
- Simple
- Source
- stable
- start
- started
- strength
- support
- support levels
- Swing
- The
- There.
- to
- toward
- Trading
- TradingView
- TRON
- TRX
- TRX Price
- TRX/USD
- Upside
- upward
- us
- US Dollar
- was
- we
- which
- with
- zephyrnet