Tron’s price trading at $0.118 observes several bullish cues, primarily from investors. This is evident in the Funding rate of the asset. The funding rate in crypto refers to a fee paid between traders to balance the market.

Positive funding rates hint at the traders making bullish bets, i.e., a rise in the long contracts, while negative funding rates show traders favor a decline. In the last 24 hours, the TRX funding rate shot up, considerably suggesting Tron enthusiasts are pushing for a rally.

This rise in price could occur since the technical analysis indicators are signaling a high potential for a rise.

Tron’s price trading at $0.118 failed to close above the $0.121 resistance level for the second time this month. The cryptocurrency will likely bounce back from the $0.116 support level that has remained unbroken for the past two weeks.

Breaching the $0.121 resistance will increase the altcoin to $0.125. This could occur in the coming days based on the broader market cues and investors’ bullishness.

However, Breaching $0.121 has been difficult for Tron’s price. A failure to do the same for a third time will likely push TRX below $0.116. This would invalidate the bullish outcome, sending the altcoin to $0.112.