Tron Price Analysis: TRX/USD bulls are at working breaking down big resistance area

TRX/USD running with chunky gains of over 5%, out-performing its peers in the market.
Solid fundamental updates continue to be reported by the Tron foundation.

Ken Chigbo Independent Analyst

The Tron price is seen holding decent gains of over 5% in the session on Wednesday, further continuing the solid run to the upside. TRX/USD has jumped a chunky 40% since the commencing of this most recent trend north.

TRX/USD foundation have continued to report solid fundamental updates, around the Tron network. Recently in their weekly report, they announced the approval of proposal no. 13, this was put forward by the founder Justin Sun. The goal is to increase the amount of energy in the network and to significantly reduce transaction costs of the Tron network.

The price at the time of writing for TRX/USD was trading at 0.028100, up over 5%. Bulls are attempting to breakdown resistance, which is seen tracking from $0.026000-0.029000. They are very close to completely breaching and moving above, which would be the first time since August 2018.

TRX/USD daily chart

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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