Tron price formed a strong support base above $0.0150 against the US Dollar. TRX is currently up over 5% and it seems like the bulls are aiming a larger rally in the near term.
- Tron price is gaining traction and it is trading nicely above $0.0168 against the US dollar.
- The price traded to a new weekly high at $0.0177 and it is showing positive signs.
- There was a break above a connecting bearish trend line with resistance near $0.0168 on the 4-hours chart of the TRX/USD pair (data source from Kraken).
- The pair is likely to continue higher towards $0.0188 or even $0.0200 as long as it is above $0.0165.
Tron Price Could Rally To $0.020
After testing the $0.0150 support level, tron price started a fresh increase against the US Dollar. TRX broke a couple if important hurdles near $0.0160 to move into a positive zone.Besides, there was a close above the $0.0165 level and the 100 simple moving average (4-hours). Recently, it rallied over 5% and outpaced other major cryptocurrencies, including bitcoin and Ethereum.
TRX price breaks $0.0170. Source:The 50% Fib retracement level of the recent upward move from the $0.0163 low to $0.0177 high might also provide support at $0.01700. On the upside, the first hurdle is near the $0.0178 and $0.0180 levels. A successful close above the $0.0180 resistance level could open the doors for a larger rally towards the $0.0188 level or even $0.0200 in the coming sessions.