TRON’s most difficult resistance level, the $0.035 mark was broken thanks to the recent uptrend in the market due to Bitcoin’s sudden surge above $11,000.
However, TRX didn’t manage to maintain the $0.040 price point after surpassing it yesterday evening and is now struggling at the $0.038 at the moment of writing this article.
Despite the mass struggle to finally pass the price point, major resistance levels are starting to be formed above the $0.040 price point at $0.042 and $0.045 respectively.
However, the first major indicator is the coin’s performance at $0.04, should it fail to surpass it before the week, it’s expected to face a large downtrend before Friday at $0.036 per coin.
When it comes to long term predictions for TRX, the market is starting to look Bullish as the TRON foundation comes out with promises to buy back some TRX.
This action will naturally deplete the supply for the market and sky-rocket the demand, but the question is if the company will do it or if they’ll be allowed to do it.
Regardless of the outcome of this promise, TRX is following a steady bullish trend for the long term and is predicted to reach $0.05 with the next BTC consolidation which still needs to reach at least $15,000 by the end of Summer 2019.