TRX/USD Keeps Trading Around $0.063 Level

The Tron price prediction is pushing strongly through the $0.063 resistance but could fall below the moving averages if the bears step back.

Tron Prediction Statistics Data:

• Tron price now – $0.063Tron market cap – $5.8 billion
• Tron circulating supply – 92.2 million
• Tron total supply – 92.2 million
• Tron Coinmarketcap ranking – #14

TRX/USD Market

Key Levels:

Resistance levels: $0.068, $0.070, $0.072

Support levels: $0.060, $0.058, $0.056

TRX/USD begins a fresh increase from the $0.062 support zone as the price continues to rise above the 9-day and 21-day moving averages; it is likely for the crypto to accelerate higher if it breaks above the upper boundary of the channel.

Tron Price Prediction: How Far Can TRX/USD go?

Currently, the Tron price is trading at $0.063 after adding 1.32% to its value on the day. The strength of the coin is opening the door for a massive recovery movement targeting $0.065. Meanwhile, from a technical perspective, TRX/USD is capable of tackling the hurdles towards the upside as the Relative Strength Index (14) moves to cross above the 60-level.

Nonetheless, it seems like the bulls may aim for a clear break above the $0.064 and $0.065 levels in the coming sessions. If they are successful with the break, the resistance levels of $0.068, $0.070, and $0.072 may come into play. In the event a reversal ensues, traders could be alert for critical support levels at $0.060, $0.058, and $0.056 respectively.

Against Bitcoin, the market price heads toward the downside as the coin trades at 303 SAT and expects another break below the lower boundary of the channel. Looking at the daily chart, traders can see that the bears are dominating the market and the next support level may come at 285 SAT and below.

Meanwhile, on the upside, a possible bullish movement could push the market above the 9-day and 21-day moving averages which could touch the resistance level at 330 SAT and above. However, the technical indicator Relative Strength Index (14) reveals that the signal line crosses below the 40-level, which could trigger more bearish signals in the market.

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