Tron (TRX) Price Positioning For Bullish Break Above $0.0300

Tron (TRX) Price Positioning For Bullish Break Above <img width=.0300" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?w=1508&ssl=1 1508w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=300%2C130&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=768%2C333&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=1024%2C444&ssl=1 1024w" data-lazy-sizes="(max-width: 1508px) 100vw, 1508px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?fit=1508%2C654&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0300"1508" height="654" src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?fit=1508%2C654&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?w=1508&ssl=1 1508w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=300%2C130&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=768%2C333&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=1024%2C444&ssl=1 1024w" data-lazy-sizes="(max-width: 1508px) 100vw, 1508px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?fit=1508%2C654&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0300" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?w=1508&ssl=1 1508w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=300%2C130&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=768%2C333&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?resize=1024%2C444&ssl=1 1024w" data-lazy-sizes="(max-width: 1508px) 100vw, 1508px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/05/TRON-TRX-1.png?fit=1508%2C654&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Tron price started a sharp downside correction from the $0.0331 high against the US Dollar.
  • TRX price found support near the $0.0245 level and it is currently moving higher towards $0.0300.
  • There is an ascending channel forming with support near the $0.0270 level on the 4-hours chart (data feed via Bitfinex).
  • The price remains well supported on the downside and it could soon climb above $0.0290 and $0.0300.

TRON price is slowly gaining bullish momentum against the US Dollar, but struggling vs bitcoin. TRX could start a strong upward move if there is an upside break above $0.0300.

Tron Price Analysis

This past week, there was a strong rally in TRON price above the $0.0250 and $0.0280 resistances against the US Dollar. The TRX/USD pair even broke the $0.0300 level and settled above the 55 simple moving average (4-hours). Finally, there was a push above the $0.0320 level and the price traded to a new monthly high at $0.0331. Later, there was a sharp downside correction below the $0.0320 and $0.0300 levels. The price even declined below the $0.0280 level, but it found support near the 55 simple moving average (4-hours).

A swing low was formed at $0.0247 and the price is currently moving higher. It climbed above the $0.0265 level and the 23.6% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low. However, the $0.0285 and $0.0290 levels are currently acting as hurdles. The 50% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low is also acting as a resistance for the bulls. A clear break above the $0.0290 level is likely to open the doors for more gains in the near term.

On the downside, there are many supports near the $0.0270 and $0.0265 levels. There is also an ascending channel forming with support near the $0.0270 level on the 4-hours chart. A downside break below the $0.0265 support level may open the doors for more losses in the near term. The next key supports are near $0.0250 and $0.0245.

Tron (TRX) Price Positioning For Bullish Break Above <img class=.0300"alignnone size-large wp-image-54218 jetpack-lazy-image" src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/TRON-TRX-1-1100x477.png?resize=1100%2C477&ssl=1" alt="Tron Price Analysis TRX Chart" width="1100" height="477" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/TRON-TRX-1-1100x477.png?resize=1100%2C477&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0300" width="1100" height="477" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/05/TRON-TRX-1-1100x477.png?resize=1100%2C477&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

The chart indicates that TRX price is following a decent bullish path above the $0.0265 support. Therefore, there are chances of more gains above the $0.0290 and $0.0300 levels. The next main resistance is near the $0.0330 level, above which the price could trade towards the $0.0360 level.

Technical Indicators

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

4 hours RSI – The RSI for TRX/USD is currently above the 50 level, and it could continue to rise towards the 65 level.

Key Support Levels – $0.0265 and $0.0270.

Key Resistance Levels – $0.0290, $0.0300 and $0.0312.

The post Tron (TRX) Price Positioning For Bullish Break Above $0.0300 appeared first on Live Bitcoin News.



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