Tron is one of the market’s highest-scoring digital currency, but the entire market persists to trail the price action of flagship crypto, Bitcoin. Over 48hrs, TRON, 16th largest market cap digital currency rose over 6.78 percent to where it presently confronts March’s resistance at a price of around $0.018. As the fundamental context of the coin strengthens, TRX/USD bulls may attempt to overrun the psychological barrier of $0.02. TRON (TRX) prices are holding steady at roughly $0.018 with no major shifts while having a trading volume of approximately $1.8 billion and a circulating supply of 66.6 billion coins at the time of publication. Justin Sun, CEO of TRON Foundation, spoke in a formal release last Saturday, June 6 as to a major update coming next month to the TRON mainnet. The co-founder of TRON said the launch of TRON 4.0 mainnet is slated for 7 July next month.
*Over 48hrs, TRON, 16th largest market cap digital currency rose over 6.78 percent to where it presently confronts March’s resistance at a price of around $0.018
*TRX/USD bulls may attempt to overrun the psychological barrier of $0.02
*Justin Sun, CEO of TRON Foundation, spoke in a formal release last Saturday, June 6 as to a major update coming next month to the TRON mainnet.
Resistance Levels: $0.0215, $0.0200, $0.0180
Support level: $0.0170 $0.0154, $0.0130
TRX/USD Daily Chart: Ranging
TRX/USD Daily Chart
Technically as seen daily, TRX/USD is positioned for further gains notably once the ongoing bullish activity breaches the horizontal resistance of March at around $0.018. The RSI is indicating buyers presently have the upper hand. The positive side movement is also emphasized by the ramp-up in trading activity, with an increase in volume since the carnage of the March market.
The daily MA 50 nearly crosses over the MA 200 as bulls exhibit greater intensity than the bears. If the positive technical picture stays unchanged, Tron may ultimately exceed $0.02. TRX reached highs of $0.0272 in February as the market typically shifted northward. The risk aversion may progress to this level as soon as the entire market continues to trail the price action of the flagship crypto Bitcoin.
TRX/USD 4-Hour Chart: Bullish
TRX/USD 4-Hour Chart
Short-term technical analysis on TRON indicates that the TRX/USD pair may result in a major breakout once the established short-term trade range shatters the upside barrier. The price of TRON (TRX) is currently trading at around $0.018 with little activity over the last 24hrs. Although TRX has retraced by 0.65 percent over the past 24hrs, the cryptocurrency stays well supported on any dips.
The TRX/USD pair is only bullish while trading beyond the $0.015 level; the main resistance is seen at the $0.018 and $0.020 level. Sellers may test support levels of $0.014 and $0.013, once the TRX/USD pair declines underneath the $0.015 level. The next session is likely to trigger price swings, notably with the trend steadily shifting northward.
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