- TRX/USD technical picture suggests that sideways trading above $0.0120 will take center stage.
- Tron price correlation with Bitcoin price could see it rally to levels above $0.0250 post-May halving.
Tron price has made substantial progress from the dive in March where it hit lows of $0.0070. At the moment TRX/USD is doddering at $0.0126. It has embraced support above $0.0120 and gearing up for a consolidative movement at the Bollinger Band daily middle curve. On the upside, the 50-day SMA is standing in the way of recovery ahead of the critical resistance at $0.0140.
On the other hand, the granddaddy of cryptocurrencies, Bitcoin is trading at $6,866. It is slightly in the green with intraday gains of 0.08%. Bitcoin has in recent days retreated from levels above $7,500. The retreat comes just weeks before the halving, which is scheduled to take place in May.
Despite Bitcoin lagging its historical pre-halving rally, some experts and cryptocurrency enthusiasts believe that a post-halving rally is still on the table. Tron like other altcoins is still correlated to Bitcoin. Therefore, if Bitcoin rallies towards $10,000 we can also expect significant bullish action with TRX/USD, with a target of $0.025.
From a technical perspective, the daily RSI clearly shows that ongoing sideways trading will take center stage. TRX/USD spike above $0.0140 will depend on the ability of the BB daily middle curve support to hold, blocking all selling activities that threaten to retest support at $0.0100. The ongoing consolidation coupled with correlation to Bitcoin price will eventually point XRP in a trajectory towards $0.025.
TRX/USD daily chart
 (12)-637224306115359824.png)
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Mantle Price Forecast: MNT eyes 200-day EMA breakout for further gains
Mantle (MNT) edges lower by over 1% at press time on Tuesday after three consecutive days of gains, while the optimism holds in the derivatives market, reflected by heightened Open Interest.
Bonk Price Forecast: BONK rallies as OI hits yearly high, LetsBonk.fun tops Solana launchpad revenue
Bonk (BONK) continues its bullish momentum, extending gains, trading around $0.000027 on Tuesday after rallying almost 20% the previous week.
Fed, OCC, FDIC issue joint guideline for banks safekeeping crypto assets for customers
The Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Monday aiming to guide banks seeking to offer crypto safekeeping services to customers.
Top Crypto Gainers: XCN, PENGU, SUI – Hold momentum while Bitcoin slips under $119,000
Bitcoin (BTC) takes a breather after hitting a record high of $123,218 on Monday, resulting in a pullback under $119,000 at press time on Tuesday.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.