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Home»EXCHANGE NEWS»Tron price prediction: TRX quietly rises to $0.18. next?
EXCHANGE NEWS

Tron price prediction: TRX quietly rises to $0.18. next?

By Crypto FlexsFebruary 21, 20242 Mins Read
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Tron price prediction: TRX quietly rises to alt=
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Tron price is rising above the $0.120 resistance level against the US dollar. TRX outperforms Bitcoin and could rise further above $0.140.

  • Tron is rising above the $0.122 resistance level against the US dollar.
  • The price is trading above $0.1350 and the 100 simple moving average (4-hours).
  • On the 4-hours chart of the TRX/USD pair, there is a major bullish trendline forming around support at $0.1382 (data source from Kraken).
  • The pair may continue to rise to $0.165 or even $0.180.

Tron price is showing strength again.

Recently, Bitcoin and Ethereum have seen significant increases and moved into positive territory. Tron price also maintained good bids and slowly rose above the $0.120 resistance zone.

There was a steady increase above the $0.128 and $0.132 resistance levels. Finally, TRX traded to a new multi-week high of $0.1400 and is currently consolidating gains. It is trading above the 23.6% Fib retracement level, rising from the $0.1309 swing low to the $0.1400 high.

Tron price is currently trading above $0.1350 and the 100 simple moving average (4-hours). There is also a major bullish trendline with support at $0.1382 on the 4-hours chart of the TRX/USD pair.

Source: TradingView.com TRXUSD

On the other hand, initial resistance is close to the $0.1400 level. The first major resistance is near $0.1420, above which the price may move higher. The next resistance is near $0.1650. A close above the $0.1650 resistance could push TRX higher towards $0.1720. The next major resistance is near the $0.180 level, above which the pair will likely target a bigger rally towards $0.20.

Are dips supported on TRX?

If TRX price fails to clear the $0.140 resistance, a downward correction may begin. Initial support on the downside is near the $0.1380 area and trendline.

The first major support is near the $0.1350 level or the 50% Fib retracement level of the rise from the $0.1309 swing low to the $0.1400 high, below which a test of $0.1320 is possible. Any more losses may result in Tron reaching $0.1250 support in the next session.

technical indicators

4-Hour MACD – The MACD for TRX/USD is gaining momentum in bullish territory.

4-Hour RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.

Key support levels – $0.1380, $0.1350 and $0.1320.

Key resistance levels – $0.140, $0.1650, $0.180.

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