Against the latest market trends, TRX is up and strong on the daily chart following a consistent increase since last weekend. If trading volume increases, we can expect it to gain more traction in the next few days.
Tron went through ups and downs in the past months but has managed to establish base support above the $0.1 level and is now footing a new bullish move on the daily timeframe with a current low buying volume.
Meanwhile, it is technically defying market sentiment with a slow and steady increase in the past few days. While buying pressure has slowed down a bit in the past hour, it is looking for support on the hourly timeframe to fuel more increase.
Looking at the new bullish move, TRX may see a massive surge in volatility if it manages to reclaim last month’s high. A drop below the same monthly low could trigger a rollback to the $0.1 range in no time.
But with the look of things, especially if we consider the latest build-up, the price is expected to rally hard in the next few days. The only condition for a reverse movement lies in a change in its current bullish sentiment.
Tron’s Key Level to Watch
Source: Tradingview
There are a lot of obstacles for TRX on the way up. A push above the $0.12 and $0.127 resistance levels could trigger a quick surge to $0.134 before flipping through the important $0.144 resistance to a new high.
The market is currently supported by the $0.11 level. If this level collapses as a result of the sell-off, the price roll back to the base support of $0.105. Below this support lies the key $0.1 level.
Key Resistance Levels: $0.12, $0.127, $0.134
Key Support Levels: $0.11, $0.105, $0.1
- Spot Price: $0.117
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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