Tron (TRX) Price Analysis: Signs of Fresh Increase Above $0.0355

Tron (TRX) Price Analysis: Signs of Fresh Increase Above <img width=.0355" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0355"1828" height="868" src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?fit=1828%2C868&ssl=1" class="attachment-full size-full wp-post-image jetpack-lazy-image" alt="" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />.0355" data-lazy-srcset="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?w=1828&ssl=1 1828w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=300%2C142&ssl=1 300w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=768%2C365&ssl=1 768w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1024%2C486&ssl=1 1024w, https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?resize=1200%2C570&ssl=1 1200w" data-lazy-sizes="(max-width: 1828px) 100vw, 1828px" data-lazy-src="https://i2.wp.com/sudan4tech.com/wp-content/uploads/2019/07/TRON-TRX-1.png?fit=1828%2C868&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />


  • Tron price rallied recently above the $0.0325 and $0.0342 resistance levels against the US Dollar.
  • TRX price traded as high as $0.0358 before it corrected lower sharply below $0.0340.
  • There was a break above a major bearish trend line with resistance near $0.0322 on the 4-hours chart (data feed via Bitfinex).
  • The price remains well supported on the downside and it could rise again towards $0.0355 or $0.0362.

TRON price is showing a few positive signs against the US Dollar, but under pressure vs bitcoin. TRX price could grind higher once again towards the $0.0355 level as long as it is above $0.0325.

Tron Price Analysis

There was a decent support formed by TRON price above $0.0310 against the US Dollar. The TRX/USD pair started a decent rise after forming a swing low at $0.03107. It broke the key $0.0320 and $0.0325 resistance levels to move into a positive zone. Moreover, there was a proper close above the $0.0325 level plus the 55 simple moving average (4-hours).

More importantly, there was a break above a major bearish trend line with resistance near $0.0322 on the 4-hours chart. The pair rallied above the $0.0340 and $0.0350 levels. A new weekly high was formed near $0.0358 before the price started a major downside correction. It traded below the $0.0345 support and the 23.6% Fibonacci retracement level of the last wave from the $0.0310 low $0.0358 high.

However, the $0.0334 level acted as a strong support. It represents the 50% Fibonacci retracement level of the last wave from the $0.0310 low $0.0358 high. Moreover, the price stayed well above the $0.0325 pivot level and the 55 simple moving average (4-hours). It is currently consolidating gains above the $0.0334 level. On the upside, there are a few important resistances near $0.0347 and $0.0350.

If there is an upside beak above $0.0350, there are chances of a strong rise above the $0.0360 and $0.0362 levels. On the downside, the key support is near the $0.0334 level. If there is a downside break below $0.0334, the price could test the main support near the $0.0325 level and the 55 simple moving average (4-hours).

Tron (TRX) Price Analysis: Signs of Fresh Increase Above <img class=.0355"alignnone size-large wp-image-54860 jetpack-lazy-image" src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1-1100x522.png?resize=1100%2C522&ssl=1" alt="Tron Price Analysis TRX Chart" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1-1100x522.png?resize=1100%2C522&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">.0355" width="1100" height="522" data-recalc-dims="1" data-lazy-src="https://i1.wp.com/www.livebitcoinnews.com/https://s3.amazonaws.com/lbn-s3/2019/07/TRON-TRX-1-1100x522.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 trading with a positive bias and it could rise again towards $0.0350 and $0.0355. However, if it fails to stay above the 55 simple moving average (4-hours) and $0.0325, there could be a fresh drop towards $0.0300.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is gaining pace in the bullish zone.

4 hours RSI – The RSI for TRX/USD is currently above the 50 level, with a bullish angle.

Key Support Levels – $0.0334 and $0.0325.

Key Resistance Levels – $0.0347, $0.0350 and $0.0358.

The post Tron (TRX) Price Analysis: Signs of Fresh Increase Above $0.0355 appeared first on Live Bitcoin News.



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