Tron is simply by market cap the 16th largest crypto-currency. At the time of publishing, TRX exchange hands at $0.0128, having risen 5.01 percent in the last 24 hours, per CoinMarketCap data. Tron has shown a substantial change in performance as TRX/USD Bull mulls upward towards $0.0140. TRX has been attempting to sustain an uptrend within an ascending trendline amid the moderate price behavior. Tron has made waves with some growth reports as per Tron Founder Justin Sun, TRX holders will earn a sum of 10 percent airdrop of the JUST Foundation’s (JST) total supply tokens. The Foundation states that the qualifying airdrop recipients must possess a TRX margin that is higher than or equivalent to TRX 100.
*TRX/USD Bull mulls upward move towards the $0.0140
*TRX has been attempting to sustain an uptrend within an ascending trendline amid the moderate price behavior
*TRX holders will earn a sum of 10 percent airdrop of the JUST Foundation’s (JST) total supply tokens
Resistance Levels: $0.02155, $0.0180, $0.0140
Support level: $0.0120, $0.0100, $0.0082
TRX/USD Daily Chart: Ranging
Tron price however made significant gains from March’s crash in which it touched lows of $0.0065. TRX/USD currently dodders at $0.0129. It has adopted support beyond $0.0120 level and alignment with the daily middle curve of the MA 50 for a consolidating shift. To the positive side, the $0.0140 mark past the 50-day MA stands in the path of rebound ahead of the key resistance.
The RSI has, therefore, soared through the 50 marks, suggestive of buying actions attempting to breach up to the $0.0140-level resistance. It is imperative that buyers retain the trendline support at all costs hence a collapse to the level of $0.0100 may seem inevitable when the bulls lose steam
TRX/USD 4-Hour Chart: Ranging
Through a technical point of view, the 4-hour RSI simply demonstrates that subsequent bullish trading may take the spotlight. TRX/USD surge beyond $0.0133 near-term barrier may rely on the capacity of short-term MA 50 curve support to stay, restricting all selling actions that aim to re-test short-term support at $0.0120. The continuous consolidation combined with the latest advance may push the price to $0.0140 level.
The 4-hour chart indicated a large rise in price candles as the price of TRX soared upward with its immediate support placed at $0.0120 levels while measuring the immediate resistance at $0.0133 level. The 16th ranked cryptocurrency is fluctuating in the short term but now has to assert its strength to continue rising over time.
Note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
Image Credit: Shutterstock