Tron price is rising and trading above $0.0750 against the US Dollar. TRX is outperforming Bitcoin and could rally further above the $0.0780 resistance.
- Tron is moving higher from the $0.0738 support zone against the US dollar.
- The price is trading above $0.0750 and the 100 simple moving average (4 hours).
- There is a crucial contracting triangle forming with resistance near $0.0775 on the 4-hour chart of the TRX/USD pair (data source from Kraken).
- The pair could continue to climb higher if it breaks $0.0775 and $0.0780.
Tron Price Remains Supported
This past week, Tron’s price saw a rejection pattern near the $0.0780 resistance against the US Dollar. TRX made a couple of attempts to clear $0.0775 and $0.0780 but failed. There was a downside correction below the $0.0765 level. The price declined below the 23.6% Fib retracement level of the upward move from the $0.0713 swing low to the $0.0778 high. However, the bulls were active near the $0.0750 support.It is showing positive signs and outperforming both Bitcoin and Ethereum. On the upside, an initial resistance is near the $0.0775 level. Besides, there is a crucial contracting triangle forming with resistance near $0.0775 on the 4-hour chart of the TRX/USD pair.