Tron (TRX) Price Analysis
Tron (TRX) has been on a tear since the beginning of June, surging from $0.111 on May 31 to $0.127 on July 1. TRX has gained more than 10% over the past month. However, its gains slowed slightly as it approached the key resistance level of $0.130.
As a result, TRX is in the red after facing huge selling pressure on Wednesday, Thursday, and Friday. In fact, TRX hit a daily low of $0.120 on Friday as sellers pushed the price below the 20-day EMA. However, buyers were able to push the price back to $0.126. TRX gained 2.38% on Saturday, rising to $0.129.
However, it failed to break above $0.130 and fell back into the red on Sunday, falling 4% to $0.124. The price is slightly up in the current trading session, trading at $0.125. The price chart shows that the bulls are buying on dips, keeping the price above the 20-day EMA.
If they start to bounce back, we might see the $0.130 resistance get tested again. If this level is crossed, we might see TRX rise to highs of $0.135.
