The recent activity in the cryptocurrency markets, especially with the momentum gained by Bitcoin and Ethereum, indicates that Tron has also been exhibiting a strengthening performance. TRX continues to gain momentum, surpassing the $0.120 resistance level against the US dollar. As of writing this article, TRX is trading just above the $0.14 level.
Altcoin TRON Continues Its Strong Ascending Momentum
The uptrend above the $0.122 resistance level is solidly continuing above $0.1350 and the 100 simple moving average on the 4-hour chart. According to the data, there is a clear upward trend line formed with support at the $0.1382 level on the 4-hour chart of the TRX/USD pair. This situation indicates that TRON could potentially rise to higher levels, such as $0.165 or even $0.180.
If the uptrend in the cryptocurrency TRON continues, the resistance near the $0.1400 level becomes an important point. Subsequently, the major resistance area around $0.1420 and even higher levels like $0.1650 could be targeted. If the bulls maintain control of the crypto asset, a larger increase to levels like $0.20 could be aimed for.
Is There a Possibility of a Price Decline?
For the altcoin TRX, a correction movement could be expected if the price fails to surpass the $0.140 resistance. In this case, the first support point would be near the $0.1380 region and close to the trend line. Further downward movements could test support levels such as $0.1350 and $0.1320.
Looking at technical indicators, the MACD for the TRX/USD pair is gaining momentum in the bullish zone. The RSI (Relative Strength Index) is currently above the 50 level. This indicates that the bullish momentum is continuing. The persistence of this momentum suggests that the TRX price could climb even higher in upcoming time frames.
In conclusion, the strengthening and positive outlook of the cryptocurrency Tron’s price could indicate a continuation of the movement towards higher levels in the near future. However, monitoring critical resistance and support levels and paying attention to breaks at these points is important. On the other hand, it appears that the price has not been much affected by today’s announcement from Circle, which stated that USDC will no longer be issued on the TRON network.
