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TRON Price Analysis: TRX is once again higher but could it find resistance soon

  • TRON bucks the trend to trade 1.33% higher on Monday.
  • The price looks set to hit the psychological 0.0150 level.
TRON Price Analysis: TRX is once again higher but could it find resistance soon
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

TRX/USD 4-hour chart

TRON trades 1.33% higher as most of the crypto majors struggle at the start of the week. There is also a clear price channel on the chart below and the top of the pattern could provide some resistance. Before that point, there is a resistance point to keep an eye on at 0.0150 and the blue horizontal line at 0.01537. That level has been used as resistance before back in March earlier on in the year. 

Looking at some of the other technical signals, the relative strength index indicator has made a lower high wave even as the price made a higher high. This could indicate there is a pullback on the card. The trend is still making higher highs and higher lows so as long as that continues the bulls will be happy. If there is to be a pullback 0.01350 is a good support zone as it has been used 2 times already on the chart.

TRX Moves Higher

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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