Tron Price (TRX) Surges Ahead: Leading the Altcoins Pack
June 10 2024 - 1:38AM
NEWSBTC
Tron price is gaining pace above the $0.1150 resistance against the
US Dollar. TRX is outperforming Bitcoin and could rise further
above $0.1180. Tron is moving higher above the $0.1150 resistance
level against the US dollar. The price is trading above $0.1155 and
the 100-hourly simple moving average. There is a key bullish trend
line forming with support at $0.1160 on the hourly chart of the
TRX/USD pair (data source from Kraken). The pair could continue to
climb higher toward $0.1200 or even $0.1220. Tron Price Regains
Strength Recently, Bitcoin and Ethereum saw a fresh decline below
$68,500 and $3,750 respectively. However, Tron price remained
stable above the $0.1120 support and even climbed higher. There was
a decent move above the $0.1150 resistance zone. TRX price cleared
many hurdles and gained over 3%. There was a move above the $0.1165
level. A high is formed at $0.1170 and the price is now
consolidating gains above the 23.6% Fib retracement level of the
upward move from the $0.1102 swing low to the $0.1170 high. Tron
price is now trading above $0.1160 and the 100-hourly simple moving
average. There is also a key bullish trend line forming with
support at $0.1160 on the hourly chart of the TRX/USD pair. On the
upside, an initial resistance is near the $0.1170 level. The first
major resistance is near $0.1180, above which the price could
accelerate higher. The next resistance is near $0.1200. A close
above the $0.1200 resistance might send TRX further higher toward
$0.1225. The next major resistance is near the $0.1320 level, above
which the bulls are likely to aim for a larger increase toward
$0.150. Are Dips Supported in TRX? If TRX price fails to clear the
$0.1200 resistance, it could start a downside correction. Initial
support on the downside is near the $0.1160 zone. The first major
support is near the $0.1150 level or the 100 simple moving average
(4 hours), below which it could test $0.1140. Any more losses might
send Tron toward the $0.1136 support in the coming sessions.
Technical Indicators Hourly MACD – The MACD for TRX/USD is gaining
momentum in the bullish zone. Hourly RSI (Relative Strength Index)
– The RSI for TRX/USD is currently above the 50 level. Major
Support Levels – $0.1160, $0.1150, and $0.1136. Major Resistance
Levels – $0.1180, $0.1200, and $0.1220.
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