Tron (TRX) Price Smashes Resistance, $0.030 Could Be Next

Tron (TRX) Price Smashes Resistance, <img width=.030 Could Be Next" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?w=1828&ssl=1 1828w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.030 Could Be Next"1828" height="868" src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?w=1828&ssl=1 1828w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.030 Could Be Next" data-lazy-srcset="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?w=1828&ssl=1 1828w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=300%2C142&ssl=1 300w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=768%2C365&ssl=1 768w, https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?resize=1024%2C486&ssl=1 1024w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i0.wp.com/sudan4tech.com/wp-content/uploads/2019/04/TRON-TRX.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Tron price formed a decent support near the $0.0235 support level against the US Dollar.
  • TRX broke a crucial resistance near $0.0245 to move into a strong bullish trend.
  • There was a break above a major contracting triangle with resistance at $0.0240 on the 4-hours chart (data feed via Bitfinex).
  • The price surged above $0.0260 and it may continue to rise towards the $0.0300 level in the near term.

TRON price gained a strong bullish momentum against the US Dollar as bitcoin rallied significantly. TRX is now trading well above $0.0250 and it may perhaps test the $0.0300 resistance.

Tron Price Analysis

This past week, TRON price corrected lower towards the $0.0220 support level against the US Dollar. The TRX/USD pair formed a strong support above $0.0220 and later started a fresh increase. Buyers gained momentum above the $0.0232 resistance later the price settled above $0.0232. Later, there was a decent rise above the $0.0235 pivot level and the 55 simple moving average (4-hours). Finally, today’s rise in bitcoin set the tone for more gains above the $0.0240 resistance.

The price rallied above the $0.0245 and $0.0248 resistance levels to move into a strong uptrend. Besides, there was a break above a major contracting triangle with resistance at $0.0240 on the 4-hours chart. The recent uptrend was strong as the surged above the $0.0270 level. A new monthly high was formed at $0.0274 before the price started a downside correction. It tested the 23.6% Fibonacci retracement level of the last wave from the $0.0237 low to $0.0274 high.

The current price action is positive above $0.0260, but if there are more downsides, the price might find bids near $0.0255. The 50% Fibonacci retracement level of the last wave from the $0.0237 low to $0.0274 high is also positioned near the $0.0255 level. On the upside, an initial resistance is near the $0.0272 level, above which the price may retest the $0.0274 high.

Tron (TRX) Price Smashes Resistance, <img class=.030 Could Be Next"alignnone size-large wp-image-53477 jetpack-lazy-image" src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/04/TRON-TRX-1100x522.png?resize=1100%2C522&ssl=1" alt="Tron Price Analysis TRX Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/04/TRON-TRX-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.030 Could Be Next" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i0.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/04/TRON-TRX-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that TRX price is gaining bullish momentum above the $0.0255 and $0.0260 levels. If it clears the $0.0274 high, the next stop for buyers could be near the $0.0300 barrier. On the flip side, if there is a downside correction below $0.0262 and $0.0260, buyers are likely to appear near $0.0255. The main support is at $0.0245, which acted as a strong resistance earlier.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone, with positive signs.

4 hours RSI – The RSI for TRX/USD is now well above the 70 level and there are no major bearish correction signs.

Key Support Levels – $0.0260 and $0.0255

Key Resistance Levels – $0.0274, $0.0285 and $0.0300.

The post Tron (TRX) Price Smashes Resistance, $0.030 Could Be Next appeared first on Live Bitcoin News.



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