TRON Price Analysis: TRX/USD makes a move to the upside
|- TRON has just broken higher and will need to take out the 0.1990 resistance if the bulls want to remain in charge.
- The TRX/USD price also bounced off the 200 period moving average in the bullish move.
TRX/USD 1-Hour Chart
TRON has pushed higher today and trades just above flat at the time of writing.
At the start of the US session, the price was slightly depressed but now there has been a crucial technical break.
The price first bounced off the 200 hourly SMA and moved higher to break the trendline.
There are two key resistance zones now in play, one at 0.1990 the previous wave high and the other at the psychological 0.200 level.
The consolidation support is holding at 0.1800 so keep an eye on the price there if it falls.
Lastly, on the daily chart, the next resistance could be at 0.2229 where the price met resistance in late October 2019.
-637164323600385279.png){kind=link}
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.