The Tron price formed a strong support base above $ 0.0150 against the USD. TRX is currently up over 5% and it seems buyers are targeting a bigger price increase in the near future.
Tron are priced – up to $ 0.020
After testing the support of $ 0.0150, the price of tron began to rise against the US Dollar. TRX broke a couple if a significant hurdle neared $ 0.0160 to move into the positive territory.
Additionally, there was a close above $ 0.0165 and 100 EMA (4 hours). It has recently increased by more than 5% and far surpassed other major cryptocurrencies, including Bitcoin and Ethereum.
During the rally, there was a break above the downtrend line connected to the resistance near $ 0.0168 on the 4-hour chart of the TRX / USD pair. The pair is trading to new weekly highs at $ 0.0177 and it is showing positive signs.
An initial support is near the $ 0.0173 level. It coincides with the Fib 23.6% retracement of the recent rally from a low of $ 0.0163 to a high of $ 0.0177. The first major support on the downside is near the $ 0.01705 and $ 0.01700 levels.
The Fib 50% retracement of the recent rally from a low of $ 0.0163 to a high of $ 0.0177 can also provide support at $ 0.01700. On the upside, the first hurdles are near $ 0.0178 and $ 0.0180.
A successful close above the $ 0.0180 resistance level can open the door for greater prices – heading towards $ 0.0188 or even $ 0.0200 in the next sessions.
Dips are supported in TRX
If the TRX price corrects lower, it is likely to remain supported close to $ 0.0170. The next major support is near $ 0.0165 (recent breakout zone).
Any further losses could probably put pressure on buyers and prices could drop below $ 0.0162 and the 100-day EMA (4 hours).