Tron Price Analysis: TRX/USD focus on $0.0240 hurdle, Justin Sun celebrates new milestones
|- Tron bulls work hard to contain corrections above $0.0220 while nurturing the uptrend towards $0.0300.
- Tron mainnet achieves more than 4.6 million active accounts as block height nears 17 million.
Tron bulls refuse to rest until they conquer the resistance at $0.0240 on their way to the critical $0.0300. The price has been in an upward trend since the beginning of January and is likely to continue with the same trend in the coming weeks. The recent break above the resistance at $0.0200 saw TRX escaped the consolidation between $0.0180 and $0.0200. Although, the next hurdle at $0.0220 was cleared, TRX failed to make its way past the resistance at $0.0240.
Tron mainnet accounts exceed expectations
The founder of Tron (TRX), Justin Sun took to Twitter to share the milestone the network had made in terms of the number of accounts on Tron mainnet as well as the block height. Sun said that the mainnet accounts had skyrocketed above 4.6 million while the block height hit 16,878,778 in addition to 953 online nodes.
Tron price technical picture
Tron is trading at $0.0228 at the time of writing. The buyers are working hard to nurture and even sustain the uptrend that has since the rejection at $0.0234 been contained above $0.0220 (immediate support). The RSI shows that the bulls are unbothered by the overbought condition and are likely to push TRX above $0.0240 in the short term. However, in the event losses overwhelm upside action, support is expected at $0.0220, the accelerated trendline (dotted), $0.0200, the 50 SMA on the 4-hour chart, the main trendline and the 100 SMA close to $0.0180.
TRX/USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.