TRX/USD Ready to Break Above $0.052 Resistance

The Tron price prediction shows that TRX is beginning to restart the uptrend after trading below the moving averages.

Tron Prediction Statistics Data:

• Tron price now – $0.051
• Tron market cap – $4.74 billion
• Tron circulating supply – 92.1 million
• Tron total supply – 92.1 million
• Tron Coinmarketcap ranking – #16

TRX/USD Market

Key levels:

Resistance Levels: $0.060, $0.062, $0.064

Support Levels: $0.045, $0.043, $0.041

TRX/USD looks green today as the price hovers above the resistance level of $0.050. However, a daily close above the 9-day moving average may increase the Tron price to $0.055 resistance. However, traders should note that a consistent price increase may bring more buyers into the market as bulls increase their positions.

Tron Price Prediction: TRX Price May Begin to Break Higher

In the past few days, after the Tron price crossed above the 9-day moving average, TRX/USD is now heading towards the 21-day moving average; crossing above this barrier could confirm the bullish movement for the coin. Moreover, the daily chart reveals that if the 9-day moving average crosses above the 21-day moving average, the coin will remain on the upside. Meanwhile, the bears may take advantage of the current market value and break below the lower boundary of the channel if the bulls fail to move the price upward.

On the same note, the technical indicator Relative Strength Index (14) is moving to cross above the 40-level, which shows that the market is ready for the upside. Nevertheless, if the Tron price touches and crosses above the upper boundary of the channel, it could hit the resistance levels at $0.060, $0.062, and $0.064 but facing the south may bring the price to the supports at $0.045, $0.043, and $0.041.

Against Bitcoin, the Tron price is hovering above the 9-day and 21-day moving averages. However, the intraday trading is ranging as the coin stays above the moving averages, any bullish movement towards the upper boundary of the channel could reach the resistance level at 340 SAT and above.

Therefore, if the sellers bring the market to the south, traders can expect a fall below the lower boundary of the channel, and breaking below this barrier may touch the support at 290 SAT and below. Meanwhile, at the moment, the technical indicator Relative Strength Index (14) is hovering around the 50-level, suggesting sideways movement.

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