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Home»EXCHANGE NEWS»Tron Price Prediction: TRX Surpasses Bitcoin. Can we reach $0.132?
EXCHANGE NEWS

Tron Price Prediction: TRX Surpasses Bitcoin. Can we reach $0.132?

By Crypto FlexsMay 10, 20242 Mins Read
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Tron Price Prediction: TRX Surpasses Bitcoin.  Can we reach alt=
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Tron price is rising above the $0.1220 resistance level against the US dollar. TRX may outperform Bitcoin and rise further above $0.1250.

  • Tron is rising above the $0.120 resistance level against the US dollar.
  • The price is trading above $0.1220 and the 100 simple moving average (4-hours).
  • On the 4-hours chart of the TRX/USD pair (data source from Kraken), a breakout occurred above the main bearish trendline with resistance at $0.120.
  • The pair may continue to rise to $0.1275 or even $0.1320.

Tron price is showing strength again.

Recently, Bitcoin and Ethereum saw new declines, falling below $63,500 and $3,100, respectively. However, Tron price remained stable above the $0.1180 support and even rose further.

There was some decent movement above the $0.120 resistance zone. TRX price cleared the 50% Fib retracement level of the downward move from the $0.1239 swing high to the $0.1181 low. Moreover, the TRX/USD pair broke the key bearish trend line at $0.120, which is the resistance level on the 4-hours chart.

Tron price is currently trading above $0.1220 and the 100 simple moving average (4-hours). On the other hand, initial resistance is close to the $0.1250 level.

Source: TradingView.com TRXUSD

The first major resistance is the 1.618 Fib extension level near $0.1275 or a downward move from the $0.1239 swing high to the $0.1181 low, above which the price may move higher. The next resistance is near $0.1320. A close above the $0.1320 resistance could push TRX higher towards $0.1365. The next major resistance is near the $0.140 level, above which the pair will likely target a bigger rally towards $0.150.

Are dips supported on TRX?

If TRX price fails to clear the $0.1250 resistance, a downward correction could begin. Initial support on the downside is near the $0.1220 area.

The first major support is near the $0.1195 level or the 100 simple moving average (4-hours), below which $0.1180 may be tested. Any more losses may result in Tron reaching $0.1150 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 – $0.1220, $0.1195 and $0.1180.

Key resistance levels – $0.1250, $0.1275 and $0.1320.

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