- Tron price prediction expects a rise to $0.18 mark.
- Strong resistance currently lies at the $0.032 mark.
- Strong support currently lies at the $0.0305 mark.
The Tron price prediction by Patrikas suggests that the TRX price will rise towards the $0.18 mark in the long-term trade. On the 18th of January, the TRX price trades near $0.031 following a retracement after rising above $0.032.
1-Day Tron price analysis
The TRX price has been under an ascending move from the 17th of January. The cryptocurrency crossed the $0.032 mark at noon and reached a daily high of $0.032295, while the daily low for the crypto asset was $0.029677. At the time of writing, the TRX price stands at $0.0311.
The cryptocurrency’s price observed retracement towards the $0.031 mark on the 18th of January. Across the technicals, we see that the TRXUSD pair is at a strong buy. 19 out of 28 technicals show a buy indication, eight of them stand neutral and one is at a selling point. Seven out of 11 oscillators are in the neutral position, three are at the buying position while one is neutral. 16 moving averages are at the buy indication and one stands neutral.
The TRX price is headed towards the upper Bollinger band on the 1D time frame. The midline is acting as the support, with the target price near the $0.033 mark. This suggests a bullish market for the TRX/USD pair in this time frame.
Tron price prediction: What’s next?
Analyst Patrikas believes that the TRX price is starting an upward move towards the $0.18 mark. The analyst expects the cryptocurrency to move towards the $15 to $21 range in 2021.
The analyst marked a WXYX wave pattern on the 1W time frame. Once the cryptocurrency hits the $0.18 resistance, it should move upwards on a run towards the $5 level and the higher resistances.
Trading View analyst Azad Ghobani believes that the TRX price is traveling in an ascending channel. The price was expected to touch the $0.031 level after bouncing off the bottom of the up-channel. On the 18th of January, the cryptocurrency moved towards the $0.031 mark after moving above the ascending parallel channel’s midline. Per the Tron price prediction, the TRX price should test the $0.0321 resistance at the top of the channel next.
An up-channel was marked inside the analyst’s main channel that suggests an upward or a downward breakout. The price traded near the channel’s midline, and a breakout here would have decided the next move for the cryptocurrency. The TRX price is currently retesting the local channel’s upper boundary before it can see further bullish activity. Important support levels for TRX/USD lie at $0.0296 and $0.0292.
Analyst Resolute expects the TRX price to go long above the $0.07 mark. Per the Tron price prediction, the cryptocurrency was accumulating between Q2 2018 and Q2 2020, and the coin has finally moved above the accumulation zone in the previous year. The 200-Day Exponential Moving Average (EMA) is acting as the support for the coin, which means that the cryptocurrency should look for an entry-level near its current trading zone with a long-term price target near $0.1.