The current market trend shows Tron’s value to be on the rise, with its value surpassing $0.0780 in comparison to the US dollar. Bitcoin, however, is not performing as well as TRX and it is possible that TRX will continue to exceed the $0.0800 resistance level.
They’re doing just fine. The one yr view shows the current market trend impacting stocks across the board
But you already know that 🙄
— Lea Maggie Me (@MaggieMollyMe) April 9, 2022
- Additionally, Tron’s price is now trading above the pivot threshold of $0.0750, indicating a positive trend. As of now, it is trading at $0.078 and the 4-hour 100 SMA.
- On the TRX/USD 4-hour chart, which derives data from Kraken, a significant contracting triangle that featured resistance at approximately $0.0770 was recently broken, further reinforcing the positive trend.
Tron’s Price Surges with Upward Breakout
The most recent Tron price prediction analyzed the possibility of TRX breaking past the US dollar. Currently, TRX has remained robust and stable above $0.0750, surpassing Bitcoin with a decent gain and breaking significant resistance levels near $0.0775. The 4-hour chart of TRX/USD shows a clear breakout above a contracting triangle with resistance close to $0.0770, and the pair surged above $0.0785.
4/ 🤝🌐 Partnerships & Announcements: Crypto markets often react to big announcements and partnerships, leading to temporary price surges for projects. #TRON's steady growth and consistent progress might not generate the same level of market excitement. 💼📉 #SteadyGrowth
— D (@dylN0chill) April 14, 2023
The price is currently consolidating gains above the 23.6% Fibonacci retracement level of the upward movement from the $0.0751 swing low to the $0.0793 high after reaching a high near $0.0793. TRX is trading above both the 100-day simple moving average (4 hours) and $0.078.
The $0.0795 mark is the first significant obstacle on the upward side, followed by a major barrier near $0.080. If TRX crosses this level, the price may rise more quickly, and the next barrier is around $0.088.
TRX Dips: Is There a Limit?
If the $0.080 resistance level is not surpassed, there could be a decline in the TRX price. Around $0.0780 is the initial level of support in the negative direction.
I wish I could sell my #trx for fiat and leave on the exchange without losing money so I can buy the dips! Is there a way to do this??
— James addleman (@hitdog24) February 2, 2018
The $0.0770 level or the 50% Fibonacci retracement level from the $0.0751 swing low to the $0.0793 high could experience a rapid price drop. The next support level is located at $0.0750.