Tron price has been showing signs of bullish momentum as it surged above the $0.1150 resistance level against the US Dollar. The price is currently trading above $0.1155 and the 100-hourly simple moving average. This positive movement is attributed to Tron outperforming Bitcoin and Ethereum in recent trading sessions.
There is a significant bullish trend line with support at $0.1160 on the hourly chart of the TRX/USD pair, indicating a potential upward movement. The next major resistance levels for TRX are seen at $0.1180, $0.1200, and even $0.1220. If the price manages to break above these resistance levels, it could further rise towards $0.1320 and eventually target $0.150.
On the downside, initial support is noted at the $0.1160 zone, followed by the $0.1150 level and the 100 simple moving average (4 hours). A failure to sustain above the key resistance level at $0.1200 might trigger a downside correction, leading the price towards $0.1140 or even $0.1136 in the near future.
The hourly MACD for TRX/USD is showing increasing bullish momentum, while the hourly RSI is currently above the 50 level, suggesting a positive sentiment among investors. These technical indicators indicate a potential continuation of the upward trend for Tron price in the coming trading sessions.
Tron price has displayed a strong bullish momentum above key resistance levels, with the potential to further rise towards higher targets. However, the cryptocurrency market remains highly volatile, and traders should closely monitor support and resistance levels to assess the future price movement of TRX.
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