Above the $0.1050 support level vs the USD, the Tron price is retaining gains. With its current performance, TRX has the potential to surpass Bitcoin's $0.1105 level.

As compared to the US dollar, Tron is gaining ground over the $0.1050 barrier level.

Over the past four hours, the price has risen above both the 100-simple moving average and $0.1065.

The TRX/USD pair is showing signs of a rising channel on the 4-hour chart, with support at $0.1052.

The pair may keep going up, maybe reaching $0.1105 or $0.1200.

Maintaining a Strong Price for Tron

The price of Ethereum fell below $2,200 while the price of Bitcoin fell below $43,500 not long ago. Nevertheless, the $0.1000 support level was enough to keep the Tron price constant. TRX began a new uptrend after forming a base at $0.1020.

The resistance levels of $0.1050 and $0.1055 were overcome. As a result of buying pressure, it has risen over the $0.1028 low, which is half of the distance from the $0.1059 swing high. At the time of writing, TRX was trading over $0.1065, which is also the 100-hour simple moving average.

On the 4-hour chart of the TRX/USD pair, a crucial rising channel is also developing, with support at $0.1052. More gains are likely based on the present price behavior.

The $0.1088 level is a potential first point of resistance on the upswing. From the $0.1059 swing high to the $0.1028 low, it has fallen nearly to the 76.4% Fibonacci retracement level. If the price can break over the first significant resistance level at $0.1105, it may quickly rocket higher.

Forecasting the Value of Tron

About $0.1150 lies the next level of resistance. If TRX manages to conclude the day above the $0.1150 barrier, it can continue its ascent above $0.1200. Once prices break through the $0.1124 barrier, bulls will most likely target $0.1320 as their next target for a greater rise.

Do TRX Dips Have Any Limitations?

The price of TRX can begin a downward correction if it is unable to break through the $0.1105 barrier. Around the $0.1065 zone, you might find first downside support.

Once it breaks below the trend line or the $0.1050 level, $0.1020 might be tested. In the upcoming sessions, Tron may be sent towards the $0.0975 support if any more losses occur.

#Tron #TronNetwork #Trx @JustinSun

Performance Metrics

The four-hour moving average convergence/divergence (MACD) for the TRX/USD pair is moving upwards.

On the four-hour Relative Strength Index (RSI), the TRX/USD RSI is now higher than the 50 level.

Major levels of support are $0.1065, $0.1050, and $0.0975.

The key levels of resistance are $0.1088, $0.1105, and $0.1150.