Tron price exceeded the $0.1240 resistance against the US Dollar, outperforming Bitcoin, with potential for further gains above $0.1300.
Bitcoin held steady near $60,000, Ethereum around $2,850, while Tron remained stable above $0.1180 and showed upward momentum.
TRX saw a two-month bearish period, but TRON started recovering in late April, bouncing from key support at $0.105 and the 38.2% Fibonacci level.
TRX formed an inverse head and shoulders pattern on the daily chart and is currently trading above the neckline.
The breakout suggests a move towards the $0.135 resistance, with the possibility of reclaiming March's $1.45 resistance.
As per Coingabbar analysis, In case of selling pressure due to market uncertainty, Tron's price might retreat near previous lows, potentially forming a double bottom before rebounding.
KEY LEVELS :
RESISTANCE LEVEL : $0.13500-$0.14500
SUPPORT LEVEL : $0.11500-$0.10500
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
@CZ @Coingabbar Analysis @Binance Research #altcoins #BinanceLaunchPool🔥 $tron #BinanceLaunchpool #buythedip #Memecoins