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Bullish
Tron (TRX) Price Ready for a Breakout Rally To $0.50?
Tron is getting ready for a major breakout surge as the larger market heals. At $0.25 right now, TRX dropped 1.43% during the previous 24 hours.
Examining the daily chart, the Tron price movement displays a notable bullish retreat challenging the $0.25 barrier. With the base of the zone at $0.21, this level corresponds to the top of the consolidation zone developed since February.
After finishing a protracted corrective phase, Tron is trying a powerful breakout over the $0.25 critical resistance level; a movement above this level may turn old resistance into new support. There is great upward momentum shown by this classic breakthrough arrangement.
As long as the price remains above the support level of $0.21, the bullish structure is intact; so, maintaining this level is crucial for future increases as well as for reducing the negative risk.
The price rose 13% last week from $0.22 to $0.25, which is a notable change. The consumers of previous week demonstrate increasing curiosity for continuous optimistic candles.
The price is trading above all EMAs; early April's golden cross is formed by the 20-day EMA crossing above the 50-day EMA. Strongly supporting the present price action, the 100- and 200-day EMAs at $0.23 and $0.21 respectively are heading higher.
The MACD indicator data indicate positive momentum with the MACD line at 0.002143, the signal line at 0.002464, and a histogram value of 0.004607. These lines have lately converged with rising histogram values to show growing positive momentum.
A breach from the consolidation zone may run against resistance at $0.266. Should the price rise over this level, the upswing may aim for $0.35.
On the negative side, support at $0.21 will probably remain, so a bearish reversal is least probable.
#Tron #WhaleMovements #TRX $TRX @Justin Sun孙宇晨 @TRON DAO
Tron is getting ready for a major breakout surge as the larger market heals. At $0.25 right now, TRX dropped 1.43% during the previous 24 hours.
Examining the daily chart, the Tron price movement displays a notable bullish retreat challenging the $0.25 barrier. With the base of the zone at $0.21, this level corresponds to the top of the consolidation zone developed since February.
After finishing a protracted corrective phase, Tron is trying a powerful breakout over the $0.25 critical resistance level; a movement above this level may turn old resistance into new support. There is great upward momentum shown by this classic breakthrough arrangement.
As long as the price remains above the support level of $0.21, the bullish structure is intact; so, maintaining this level is crucial for future increases as well as for reducing the negative risk.
The price rose 13% last week from $0.22 to $0.25, which is a notable change. The consumers of previous week demonstrate increasing curiosity for continuous optimistic candles.
The price is trading above all EMAs; early April's golden cross is formed by the 20-day EMA crossing above the 50-day EMA. Strongly supporting the present price action, the 100- and 200-day EMAs at $0.23 and $0.21 respectively are heading higher.
The MACD indicator data indicate positive momentum with the MACD line at 0.002143, the signal line at 0.002464, and a histogram value of 0.004607. These lines have lately converged with rising histogram values to show growing positive momentum.
A breach from the consolidation zone may run against resistance at $0.266. Should the price rise over this level, the upswing may aim for $0.35.
On the negative side, support at $0.21 will probably remain, so a bearish reversal is least probable.
#Tron #WhaleMovements #TRX $TRX @Justin Sun孙宇晨 @TRON DAO
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