Tron’s Justin Sun has already revealed the new partnership with Bidao Chain’s DeFi ecosystem. It’s crystal clear that the more collaborations that Tron makes, the more investors it will have under its wing. Such robust fundamentals might have begun influencing the Tron price action movement pattern. Over the past 24 hours, the cryptocurrency has made a huge leap of about 9.5%.
Tron price analysis
Earlier yesterday, there were no signs of an upcoming bull run. The price of Tron dropped down from $0.013027 to $0.012751 by a marginal slump. Nevertheless, from this point, TRX began a majestic bullish momentum; its price surged by roughly 7% to hit $0.013642. Afterwards Tron faced another downswing of about 5.58% pushing down Tron price to $0.014226 earlier today.
TRX holds a firm support line at the simple moving average (SMA) line of both 20 days and 50 days; at $0.01387 & $0.01374, respectively. It’s RSI has gone upwards the 70 level to 74 and it might camp at this point temporarily for a while. Considering the current bullish momentum, Tron price may test the resistance at roughly $0.0148.
