Tron Price Analysis: TRX Meets Resistance After Recent Uptrend

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Tron Daily Chart

After outperforming most top cryptocurrencies recently, Tron has found resistance at $0.028.

Tron has been performing a series of higher highs and higher lows recently but has stopped its increase but has halted its appreciation as it approaches $0.028.

$0.028 to $0.031 was an important area of consolidation for Tron during bearish declines which took place in August.

When price recently entered this area in early January, it quickly rose near $0.036 before dropping back below $0.028.

Price may be expected to undergo some volatile movements if it enters this area once again.

Numerous tests of a level make it weaker, and the price has already tested $0.028 a number of times.

The daily MACD is also crossing its signal line to the upside which many consider to be a bullish signal and is definitely indicative of the recent buyer momentum.

Tron Hourly Chart

Price is struggling to continue its recent series of higher highs and higher lows as it approaches $0.28.

The most recent high is above the last but only slightly.

Many other cryptocurrencies are trading above key support levels such as Bitcoin, Ethereum, and XRP.

If these top cryptocurrencies can stay above their support levels, there is an increased likelihood that Tron can break above $0.028.

If these top cryptocurrencies break below their support levels, Tron is likely to move with the market and trade away from $0.028.

Key Takeaways:

  • Tron has been outperforming recently after forming a series of higher highs and higher lows.
  • Tron has been testing resistance at $0.028. If price can break above this level, it is likely to undergo some volatile movements.
  • Whether Tron breaks above $0.028 is likely to depend on top cryptocurrencies such as Bitcoin, Ethereum, and XRP with all of these currently trading above key support levels.

Tron Price Analysis: TRX Meets Resistance After Recent Uptrend was originally found on copy trading cryptocurrency | Blockchain News | Bitcoin News | blokt.com.