{"id":434674,"date":"2020-08-14T07:28:07","date_gmt":"2020-08-14T07:28:07","guid":{"rendered":"https:\/\/wncen.com\/?p=434674"},"modified":"2024-06-11T14:15:06","modified_gmt":"2024-06-11T14:15:06","slug":"tron-trx-rallies-15-and-showing-early-signs-of-a-strong-uptrend","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/tron-trx-rallies-15-and-showing-early-signs-of-a-strong-uptrend\/","title":{"rendered":"Tron (TRX) Rallies 15% And Showing Early Signs of A Strong Uptrend"},"content":{"rendered":"<p><em>Tron price rallied over 15% and it surpassed the key $0.0220 resistance zone against the US Dollar. TRX could correct lower in the short term, but the price action suggests more gains.<\/em><\/p>\n<ul>\n<li>Tron price is gaining bullish momentum above the $0.0220 resistance against the US dollar.<\/li>\n<li>The price traded to a new weekly high at $0.0243 and it is currently correcting lower.<\/li>\n<li>There is a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX\/USD pair (data source from Bitfinex).<\/li>\n<li>The pair is likely to continue higher towards $0.0250 or even $0.0265 as long as it is above $0.0218.<\/li>\n<\/ul>\n<h2>Tron Price Starts Fresh Increase<\/h2>\n<p>After forming a strong support base above $0.0200, tron price started a fresh increase against the US Dollar. TRX broke a couple of important resistances near $0.0218 to move into a positive zone.<\/p>\n<p>The upward move gained strength above the $0.0220 level and the 100 simple moving average (4-hours). It jumped over 15% and traded to a new weekly high at $0.0243. At the moment, the price is consolidating gains and trading near the $0.0232 level.<\/p>\n<p>An initial support is near the $0.0230 level. It is close to the 23.6% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high. The first major support on the downside is near the $0.0220 and $0.0218 levels.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1942\" height=\"1142\" class=\"alignnone size-full wp-image-434675\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?resize=1942%2C1142\" alt=\"Tron (TRX)\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=1942 1942w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/Tron-TRX.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Tron (TRX) price breaks $0.024. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/TRXUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>The 50% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high is also near the $0.0216 level to act as a strong support. On the upside, the $0.0240 level is an immediate hurdle for the bulls. A successful close above the $0.0240 resistance level could open the doors for a larger rally towards the $0.0250 level or even $0.0265 in the coming sessions.<\/p>\n<h2>Dips Likely to be Limited in TRX<\/h2>\n<p>If TRX price corrects lower, it is likely to remain supported near the $0.0200 pivot level. The next major support is near the $0.0218 level (the recent breakout zone).<\/p>\n<p>There is also a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX\/USD pair. Any further losses may perhaps push the price back towards the $0.0200 support.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-hours MACD \u2013 The MACD for TRX\/USD is gaining momentum in the bullish zone.<\/p>\n<p>4-hours RSI (Relative Strength Index) \u2013 The RSI for TRX\/USD is rising and it is well above the 70 level.<\/p>\n<p>Major Support Levels \u2013 $0.0230, $0.0220 and $0.0218.<\/p>\n<p>Major Resistance Levels \u2013 $0.0240, $0.0250 and $0.0265.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron price rallied over 15% and it surpassed the key $0.0220 resistance zone against the US Dollar. TRX could correct lower in the short term, but the price action suggests more gains. Tron price is gaining bullish momentum above the $0.0220 resistance against the US dollar. The price traded to a new weekly high at $0.0243 and it is currently correcting lower. There is a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX\/USD pair (data source from Bitfinex). The pair is likely to continue higher towards $0.0250 or even $0.0265 as long as it is above $0.0218. Tron Price Starts Fresh Increase After forming a strong support base above $0.0200, tron price started a fresh increase against the US Dollar. TRX broke a couple of important resistances near $0.0218 to move into a positive zone. The upward move gained strength above the $0.0220 level and the 100 simple moving average (4-hours). It jumped over 15% and traded to a new weekly high at $0.0243. At the moment, the price is consolidating gains and trading near the $0.0232 level. An initial support is near the $0.0230 level. It is close to the 23.6% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high. The first major support on the downside is near the $0.0220 and $0.0218 levels. Tron (TRX) price breaks $0.024. Source: TradingView.com The 50% Fib retracement level of the recent rally from the $0.0190 low to $0.0243 high is also near the $0.0216 level to act as a strong support. On the upside, the $0.0240 level is an immediate hurdle for the bulls. A successful close above the $0.0240 resistance level could open the doors for a larger rally towards the $0.0250 level or even $0.0265 in the coming sessions. Dips Likely to be Limited in TRX If TRX price corrects lower, it is likely to remain supported near the $0.0200 pivot level. The next major support is near the $0.0218 level (the recent breakout zone). There is also a crucial bullish trend line forming with support near $0.0210 on the 4-hours chart of the TRX\/USD pair. Any further losses may perhaps push the price back towards the $0.0200 support. Technical Indicators 4-hours MACD \u2013 The MACD for TRX\/USD is gaining momentum in the bullish zone. 4-hours RSI (Relative Strength Index) \u2013 The RSI for TRX\/USD is rising and it is well above the 70 level. Major Support Levels \u2013 $0.0230, $0.0220 and $0.0218. Major Resistance Levels \u2013 $0.0240, $0.0250 and $0.0265.<\/p>\n","protected":false},"author":67,"featured_media":434676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,4],"tags":[11808,14262,79579],"class_list":["post-434674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-analysis","tag-tron","tag-trxusd","tag-trxusdt"],"acf":[],"yoast_head":"\n<title>Tron (TRX) Rallies 15% And Showing Early Signs of A Strong Uptrend<\/title>\n<meta name=\"description\" content=\"Tron price rallied over 15% and it surpassed the key $0.0220 resistance zone against the US Dollar. 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