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.