Tron (TRX) Rockets Past Resistance: What’s Next?

Tron (TRX) is on a tear, breaking above the $0.1150 resistance against the US Dollar. With TRX outpacing Bitcoin, could it soon surpass $0.1180?

Key Highlights:

- Tron breaks $0.1150 resistance, trading above $0.1155 and the 100-hour simple moving average.

- Bullish trend line support at $0.1160 on the TRX/USD hourly chart (Kraken data).

- Potential targets: $0.1200 and $0.1220.

While Bitcoin and Ethereum dipped below $68,500 and $3,750, Tron held firm above $0.1120, then surged past $0.1150. TRX climbed over 3%, hitting a high of $0.1170 and stabilizing above the 23.6% Fib retracement from $0.1102 to $0.1170.

Currently, TRX is trading above $0.1160 and the 100-hourly SMA, with a bullish trend line at $0.1160.

Immediate resistance is at $0.1170, with major resistance at $0.1180. A break above $0.1200 could propel TRX to $0.1225 and potentially $0.1320, targeting $0.150.

Support Levels:

If TRX faces rejection at $0.1200, look for support at $0.1160. Major supports are at $0.1150 and $0.1140, with further downside possible to $0.1136.

Technical Indicators:

- Daily MACD: Bullish momentum.

- Daily RSI: Above 50, indicating strength.

Support Zones: $0.1160, $0.1150, $0.1136.

Resistance Zones: $0.1180, $0.1200, $0.1220.

Tron’s impressive rally places it ahead of other altcoins. Keep an eye on key resistance levels to gauge the next big move.
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