Key points
- Price TRON did a good upward step and overcome resistance in 0,0250 dollar (data Binance) relative to the U.S. dollar
- On 4-hour chart worked out the main line of the bullish trend formed in the support 0,0240 dollar
- Price TRX well maintained, it can continue growth to $ 0,0300 or $ 0,0320
Analysis
This week has been a sharp increase in TRON with the support level of $0,0200. Pair TRX/USD gained momentum and overcame resistance levels $0,0220 and 0,0250.
The graph shows that the price of TRX overcame the level of $0,0275 and established at the level above the moving average. The new annual high was formed at $0,0277, then the price started consolidating the profit. The decline was limited, and the price is currently trading in the range above the support of $0,0260.
If there is a downward correction, the price is likely to find strong support around $0,0250 $0,0240. After the completion of the current phase of consolidation or correction, the price may again rise above $0,0275.
If the bulls TRX will continue to rally, there is the possibility of a break above the resistance level of $0,0300. The next major hurdle above $0,0300 is close to $0,0320 followed by $0,0350. Thus, traders can look for short term drop to enter the market for further growth in the short term.
