- Golden crossover is about to take place on the daily chart.
Currently , TRON is trading near its 50 EMA (the blue line) and 200 EMA (the green line). There is a probability that a Golden Crossover will occur within the coming weeks.
TRON on daily timeframe
Although it has shown some bull move in the last several days, the overall trend as of right now remains sideways. The currency is currency at its resistance level and can give a strong breakout with price going to its next nearby resistance which is $0.07070641, after consolidating for a while at current levels and after creating a strong demand zone.
MACD – The MACD gas developed a bullish cross. On the TRON daily chart, the MACD’s bullish crossover suggests an uptrend.
Relative Strength Index (RSI) – The RSI curve has crossed the 50-point mark at 68.26 according to the relative strength indicator (RSI). The rise in the coin values have boosted the value of the RSI curve. If the price increases even further, the RSI curve can jump sharply higher.
Analyst views and expectations
In the following weeks, there may be a bullish trend but that trend will only benefit short-term investors because the price may drop back after encountering its nearby resistance. As a result, long-term investors should wait for some time.
PricePrediction.net made a TRX price prediction which saw the coin potentially trade at $0.081 this year and $0.12 next year. By 2025, the site said,tron could be worth $0.18 possibly reaching $0.26 in 2026, $0.26 in 2026 and $0.38 in 2027 and potentially closing the decade at $0.54.
According to CrptoNewsZ, TRX may have been valued at $0.17 in 2024. It predicted that the price of tron will be around $0.24 in 2025 and then it might rise to $0.26 in 2026.
According to PricePrediction.net TRX price forecast the coin might sell for $0.081 this year and $0.12 the following year. According to the website tron might be worth $0.18 by 2025.
Technical Levels
Major resistance -$0.08812882
Major support -$0.04981928
Conclusion
The currency currently appears to be a promising short-term investment but long-term investors should also keep a careful eye on it because the Golden Crossover is about to occur in the next few weeks during which time long-term investors will be able to invest in the coin.
Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.
Source: https://www.thecoinrepublic.com/2023/01/21/trons-technical-outlook-decoding-the-currency-potential-for-growth/