Tron price analysis: TRX/USD makes a giant leap to $0.02 as Bittrex Exchange announces TRX/USD pair

Tron has joined in the subtle altcoin jump from the lows traded on Wednesday. The crypto is up more than 12% in the last 24 hours after an incredible recovery from $0.017. From the beginning of the week, the bear pressure in the market has continued to cripple Tron. The support at $0.020 (current resistance) was massacred, besides $0.018 did very little to stop the overarching bear trend.

It is a celebration in the Tron community following the announcement that TRX is about to get the first fiat trading pair in the United States. Bittrex, a U.S.-based cryptocurrency will be adding support for TRX/USD trading pair September 17. This is a great milestone for the 13^th largest digital asset in the market. The founder of Tron broke the news to the community on Twitter calling it a “small step for Bittrex Exchange, one giant leap for TRON” and citing the announcement by Bittrex:

“We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for TRON (TRX) and Litecoin (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading.”

Meanwhile, Tron has broken above the trendline resistance at $0.0186 and is currently exchanging hands at $0.0195. Similarly, Tron came close to $0.020 but was unable to correct higher. All technical indicators are showing positive signals while the 61.8% Fib retracement level with the last swing high at $0.0208 and a swing low of $0.01701 is immediately supporting the price.

It is essential that the buyers push the price above $0.020 because this will allow them to focus on higher levels heading to $0.03. On the flipside, $0.018 is a significant support but the recent lows at $0.017 present a strong anchor.

TRX/USD hourly chart