{"id":131393,"date":"2021-07-07T08:43:09","date_gmt":"2021-07-07T08:43:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131393"},"modified":"2021-07-07T08:43:09","modified_gmt":"2021-07-07T08:43:09","slug":"tron-trx-price-analysis-fresh-increase-likely-above-0-07","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/tron-trx-price-analysis-fresh-increase-likely-above-0-07\/","title":{"rendered":"Tron (TRX) Price Analysis: Fresh Increase Likely Above $0.07"},"content":{"rendered":"
TRON price is now showing positive signs above $0.0600 against the US Dollar, similar to bitcoin. TRX price must surpass $0.0700 to continue higher in the near term.<\/em><\/p>\n After forming a base above the $0.0500 zone, tron price started a fresh increase against the US Dollar. TRX price broke many hurdles near the $0.0620 zone to move into a positive zone.<\/p>\n It even spiked above the $0.0680 level and the 55 simple moving average (4-hours). However, it failed to continue higher above the $0.0700 resistance zone. A high was formed near $0.0698 before the price started a downside correction.<\/p>\n It traded below the $0.0650 support zone. There was a break below the 23.6% Fib retracement level of the upward move from the $0.0470 swing low to $0.0698 high.<\/p>\n However, the bulls were active above the $0.0640 support. The next major support is near the $0.0620 level. Any more losses might call for a drop towards the $0.0585 zone. It is near the 50% Fib retracement level of the upward move from the $0.0470 swing low to $0.0698 high.<\/p>\n On the upside, the price is facing resistance near $0.0660 and the 55 SMA. There is also a major bearish trend line forming with resistance near $0.0670 on the 4-hours chart.<\/p>\n A clear upside break above $0.0660 and $0.0670 could open the doors for a sharp increase. The next major resistance is near $0.0700, above which the price could revisit $0.0800.<\/p>\n <\/p>\n Tron (TRX) Price<\/p>\n The chart indicates that TRX price is now trading well above the $0.0620 zone, but it is still below the 55 simple moving average (4-hours). Overall, the price is likely to start a decent increase above the $0.0680 and $0.0700 resistance levels.<\/p>\n 4 hours MACD \u2013 The MACD for TRX\/USD is slowly gaining momentum in the bullish zone.<\/p>\n 4 hours RSI – The RSI for TRX\/USD is now above the 50 level.<\/p>\n Key Support Levels \u2013 $0.0644 and $0.0620.<\/p>\n Key Resistance Levels \u2013 $0.0670, $0.0700 and $0.0800.<\/p>\nTron Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n