#TRON price has experienced a notable upswing against the US Dollar, akin to Bitcoin's movement. The potential for TRX's price to continue rising remains, contingent on a successful breach of the $0.0810 resistance level.
Following a downward correction, Tron's price found a solid support zone around $0.07880 against the US Dollar. This established a foundation for TRX's recent upward surge, commencing from the low of $0.07887.
After surpassing the resistance levels at $0.0792 and $0.0800, TRON's price managed to rise above the 23.6% Fibonacci retracement level of the previous downward movement, which extended from the $0.08266 swing high to the $0.07887 low.
However, it is currently trading below both $0.0800 and the 50-hourly simple moving average. On the 4-hour chart, there is a notable bullish trend line developing, offering support around $0.08050.
TRX is currently encountering resistance around the $0.0810 level, with the subsequent significant resistance located near $0.082. A decisive breakout above $0.082 might propel the price towards the $0.0850 resistance zone. Further bullish momentum could potentially drive TRX price higher to reach the $0.0880 level, and in an extended bullish scenario, even target $0.090.
TRX is currently facing resistance at $0.0810, along with the trendline resistance. Initial support lies around $0.0790 and the trendline, while a more significant support level is forming near $0.07800. A downside break below $0.07800 may lead to a revisit of $0.0750 support, with further losses possibly extending towards the $0.07200 zone.
Based on Coingabbar Price Analysis, the #TRX has a market value of $7,142,336,645. The coin's 24-hour trading volume is around $197,727,472.
KEY LEVELS :
RESISTANCE LEVEL : $0.08100-$0.08240
SUPPORT LEVEL : $0.07880-$0.07700
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.