- Tron is looking for another leg up with all major indicators favouring the bulls.
- TRX/BTC is currently trading at 0.00000212 btc with an intraday gain of 4.95%
- TRX/ETH is currently trading at 0.00002915 eth with an intraday change of +3.15%
Tron is currently trading above all the significant moving averages of 50, 100 and 200. This is a bullish price indication for Tron. If the price continues to stay above all the mentioned moving averages, we are very likely to see Tron smash major resistances.
MA 50: Yellow
MA 100: White
MA 200: Red
The Fibonacci indicator is pointing resistance at the 0.10687 USDT price level, which TRX was unable to break earlier. Before it there’s another resistance at 0.10126 USDT which we are likely to smash soon. The 0.08871 USDT will act as a support indicated by the Fibonacci.
The Relative Strength Index (RSI) is bouncing from the neutral zone, indicating a bullish momentum. The RSI is making an uptrend after the bounce from the neutral zone. Buyers here would like to jump in!
The MACD line and the signal line are both above the zero line which is a sign of bulls being in control. The MACD line is expected to cross the signal line very soon leading to Tron hitting the resistance levels.
MACD line colour: BLUE
Signal line colour: RED
The major support and resistance to look for are:
Resistance: 0.10126 usdt, 0.11486 usdt and 0.12503 usdt
Support: 0.08871 usdt and 0.07749 usdt.
These support and resistance are spotted from the Fibonacci indicator.
Takeaway: With all the major indicators favouring the bulls, Tron is expected to continue it’s uptrend by smashing the resistance levels mentioned above.