Price Analysis

TRON (TRX) Pushed Its Limits Overnight; It May Soon Cross $0.0146

  • TRON has been trading under a bullish influence for the last few days, and it has marked another day of growth with a 9.7% hike
  • It is currently traded at $0.0142, and the target of $0.0146 seems realistic now
  • TRX/USD holds strong support at $0.0130

TRON’s CEO has recently announced its new association with Bidao Chain’s DeFi ecosystem. There is no doubt about the fact that the more associations TRON will make, the higher will be its investors count. The strong fundaments might have started to impact the price pattern of TRX coin. Over the last day, it has made a huge jump of 9.7%.

TRON Price Analysis

TRX News
TRX/USD Chart By TradingView

Yesterday’s initial few hours didn’t give any hint of an upcoming bullish storm. The TRX price was pulled down to $0.012751 from $0.013027 by a marginal slump at 06:00 UTC. From this low, the currency started a magnificent upside movement. By 14:30 UTC, TRON price gained almost 7% hike and reached $0.013642. After that, the coin registered another push of 5.62% that took the price to $0.014226 by 02:45 UTC today.

The TRX coin holds strong support from both the SMA lines of 20-days & and 50-days at $0.01387 & $0.01374, respectively. The RSI has gone way above the 70 points, at 74, and it might remain in this overbought territory for some time.  As per the current upside momentum, TRON price may test the next resistance point around $0.0146.

Tags

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

Related Articles

Back to top button
Close