The Tron price was able to win 700% in the last 7 months! How high can TRX keep on climbing?
TRON Price Analysis – Bullish break out!
Since March 2020, the TRX price gained about 720%! This helped TRX have a bullish break out from the descending parallel channel! Although the Tron price was temporarily able to break over the 0.382 Fib level at $0.0432, the weekly candle closed under the golden ratio resistance at $0.03. But despite the Tron price having a bullish break out, the MACD is signaling a continuation of the correction. TRX will find support at the latest at $0.02, the 50-Weekly EMA.
TRON Price Analysis – At the golden ratio support!
Currently, the Tron price finds itself at the golden ratio support at $0.024, from which Tron was already able to bounce. Should the Tron price close above the 50-Daily-EMA at $0.0267, it would be able to rise again to the golden ratio resistance at $0.03!
In the daily chart the RSI and MACD are looking bullish!
TRON Price Analysis – 210% increase in two months!
The TRX price was able to gain 210% during August and September! Should the TRX price be able to break the golden ratio resistance at $0.03, it would find its next bullish target at $0.035 and later at $0.043!
TRON Price Analysis – Death cross in the 4H chart!
A death cross has defined itself in the 4H chart a few days ago, which confirms the bearish trend in the short term. Should the TRX price fail at the 200-4H-EMA at $0.02734, it would probably move back to the support between $0.02 – $0.024. Otherwise the TRX price should be able to rise at least to the golden ratio at $0.3!
TRON Price Analysis – at the golden ratio support!
Against Bitcoin the TRX price finds itself exactly at the golden ratio support at 0.0000025 BTC. Should the monthly candle close above this level, the TRX price could move toward the resistance between 0.0000032 – 0.00000337 BTC. Otherwise Tron would find support at 0.0000016 BTC.
Best Regards and successful trades
You might also like
More from TradingView
Arbitrum mainnet beta was launched on the Ethereum network on Sep 01 and there's astonishing progress on that front. As …