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TRON price analysis: TRX races high, aiming for $0.074 next as bulls show aggressive momentum

TRON price analysis TRX races high aiming for next as bulls get aggressive

TL;DR Breakdown

  • Price levels have risen unexpectedly to reach $0.073.
  • The resistance for TRX is present at $0.074.
  • Support for TRX is present at $0.069.

The TRON price analysis indicates a strong bullish trend, as a sharp increase in price has been detected today. The most recent update shows that the cryptocurrency is going in favor of the buyers as they have taken over the market. The past few hours have observed a continuous aggressive bullish price movement, due to which the price has reached the $0.073 level and is on course to go above the current resistance at $0.074.

TRX/USD 1-day price chart: Bulls mark 16 percent gains as price surges to $0.073

The 1-day price chart for Tron price analysis is going in a bullish direction for the day, as the price has jumped higher than expected. There has been a massive rise in the coin value, and the price levels are going high every hour, which has resulted in the price reaching $0.073 of value. The coin has gained a handsome 16.4 percent value overnight. The moving average (MA) has also taken a sharp upwards turn and will soon cross over SMA 50 curve, which is a further bullish indication.

TRON price analysis: TRX races high, aiming for $0.074 next as bulls show aggressive momentum 1
TRX/USD 1-day price chart. Source: TradingView

On the other hand, the volatility is high, which has provided the chance for the bulls to surge the price levels. Meanwhile, the Bollinger bands are showing their upper value at $0.073, a few decimals above the price levels, and it represents the resistance for TRX, and the lower value is at $0.055, representing the strongest support. The Relative Strength Index (RSI) score is also reaching higher heights, i.e., index 65, and the curve is steeply upwards, reaching near the overbought mark.

TRON price analysis: 4-hours price chart indicates a drop after bears regain momentum

The 4-hours TRON price analysis is predicting a steady increase in the price as the bulls have regained their strength. The price has increased to $0.073, which is surprising considering that the price oscillations were slow as expected at the start of the trading session, but the coin started showing aggressive bullish behavior later in the morning, and it has been racing high for the last 12 hours.

TRON price analysis: TRX races high, aiming for $0.074 next as bulls show aggressive momentum 2
TRX/USD 4-hours price chart. Source: TradingView

The moving average (MA) value of $0.0.065 is above the Bollinger bands mean average line, which is forming at the $0.063, as the bulls have taken the price far above the upper limit of the volatility indicator, and the Bollinger bands are expanding sharply to catch up with the high racing price. The RSI score has also shifted towards the inclining movement, and it has increased up to index 83, but the curve is still upwards. However, RSI can give a sell signal at any time.

TRON price analysis conclusion

The 1-day and 4-hours TRON price analysis is dictating that the bulls are showing marvelous performance, and they have elevated the price levels to unexpected levels and are trying to recover the losses incurred during the entire month of April 2022. It looks like the price will break above the $0.074 resistance mark in the coming hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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