The current value of TRON is $0.088860 in USD, having a 24-hour trading volume of $199,098,309. Over the last day, TRON has increased by 4.54%.
TRON is currently ranked #10 by CoinMarketCap, with a total market capitalization of USD 7,915,631,027, and has a circulating supply of 89,080,165,191 TRX coins. The maximum collection of TRON is not available.
Tron value against the US Dollar is gaining momentum and has surpassed the $0.0850 resistance level. TRX is performing better than Bitcoin and may experience further growth, with a potential rise towards $0.092.
Currently, the price is above the 100 simple moving average (4 hours), trading at $0.0862. A bullish trend line is forming with support near $0.0855 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair may continue to climb towards $0.092 or even $0.095.
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TRX Price Bounces Back, Showing Signs of Strength
In the previous analysis of Tron’s price, we discussed the possibility of TRX experiencing more gains against the US Dollar. TRX remained steady and performed better than Bitcoin, surpassing the $0.082 resistance level.
The bulls were able to drive the price above the resistance levels of $0.0825 and $0.0850, reaching a high of approximately $0.0879. The price is consolidating gains, indicating that it could climb above $0.088.
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TRX is currently trading above the 23.6% Fib retracement level of the upward move from the $0.0820 swing low to the $0.0879 high, above $0.0865 and the 100 simple moving average (4 hours). Additionally, a significant bullish trend line is forming with support near $0.0855 on the 4-hour chart of the TRX/USD pair.
Regarding resistance levels, the first one is around $0.088, followed by a major resistance at $0.0920. If surpassed, the price could escalate even further, reaching the next resistance level of approximately $0.095.
TRX could move higher if it surpasses the resistance level of $0.095. A significant resistance lies ahead at $0.105; if the bulls break through it, they could aim for a more substantial increase towards $0.112.
Exploring the Limitations of Dips in TRON What You Need to Know
Should the $0.088 resistance prove too challenging to overcome, a downward correction for the TRX price is possible. The initial support on the downside can be found around the $0.0867 zone, with the first major support being near the $0.0855 level or the trend line.
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The line indicating the trend is close to the 50% Fibonacci retracement level of the upward movement from the swing low of $0.0820 to the high of $0.0879. If it falls below this level, it may test the 100 simple moving average (4 hours) and find support at $0.0830.
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