Tron Technical Analysis: TRX/USD follows the market with another 7% breakout above $0.03
- TRON has established a new 2020-high at $0.03 and it’s now facing a resistance level from July 2019.
- The next resistance level is the two-year high is located at $0.04.
Tron is currently trading at $$0.0306 with a lot of bullish momentum behind it. Bears are struggling to find anything after an entire week of gains for Tron. The increase in trading volume has been significant but many indicators are now heavily overextended.
TRX/USD daily chart
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The daily RSI is clearly overextended but FOMO is far stronger. The next clear resistance level is right here at $0.0306, established in July 2019. Besides that, Tron is not really facing a lot of opposition until $0.04.
TRX/USD 4-hour chart
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The 4-hour chart is healthier although the RSI is also in the overbought zone. Bulls have been defending the 12-EMA throughout the rally.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
