TRON Price Survives Storm: Can It Rise Further?

Tron is maintaining gains over $0.1550 vs the USD. TRX outperforms Bitcoin and might rise beyond $0.1620.

Tron is over $0.1550 vs the US dollar.
The price is below $0.1620 and the 100-hour SMA.
The hourly TRX/USD chart shows a rising channel with support around $0.1595.

The pair may rise to $0.1620 or $0.1650.

Tron Price May Rise

Bitcoin and Ethereum fell below $60,000 and $2,650, respectively. Above $0.1550, Tron price stayed steady.

A low at $0.1554 sparked a good rise. Moved over $0.1585 resistance. The price rose over the 23.6% Fib retracement of the slide from $0.1688 swing high to $0.1554 low.

Bears seem active near $0.1620. TRX is below $0.1620 and the 100-hour SMA. On the hourly TRX/USD chart, a rising channel with support around $0.1595 is formed.

Initial resistance is about $0.1610 on the upswing. Price might surge beyond $0.1620, the first big obstacle. Next resistance is $0.1650, the 76.4% Fib retracement level of the decline from $0.1688 swing high to $0.1554 low.

TRX may rise to $0.1720 if it breaks $0.1650 barrier. Bulls may push for $0.1850 after breaking resistance at $0.1740.

TRX Dips Supported?

Failure to break $0.1620 barrier might cause a negative reversal for TRX. The channel's trend line and $0.1595 provide first downward support.

It may challenge $0.1550 below $0.1575, the first significant support. More losses might push Tron toward $0.1520 in the following sessions.

The TRX/USD MACD is rising in the positive zone.

TRX/USD's hourly RSI is over 50.

Major Support Levels: $0.1550, $0.1520.

Major resistance levels: $0.1620, $0.1650.


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