Tron saw a sudden surge last weekend and tapped $0.078 today, following an impressive gain in 7 days. Most of its trading pairs and altcoins bridge is also currently charting greens.
Following a sudden daily crash in mid-March, TRX saw a quick buy and recovered fully to maintain its bullish trend. After that, trading activity dropped a bit, and volatility began to squeeze on the way up.
As buying volume becomes insignificant daily, the cryptocurrency continues to struggle for more gains in the middle of the squeeze. Despite that, the buyers remained in action as they kept pushing higher to sustain momentum.
After two months of accumulation, TRX flipped $0.07 last weekend and started to surge. Closing last week green, the surge was reiterated today with a 5% gain over the past hours. It shows no sign of weakness yet.
The price is currently targeting the June 2022 breakdown level of $0.08. Once the price touches this area, a pullback should be expected before it can resume positive actions.
TRX remains bullish, while other altcoins are bearishly looking for a threshold level to initiate a buy. On a yearly scale, the price is up by 40% with no signs of bearish at the time of writing.
Tron’s Key Level to Watch
If the price surges above the mentioned target level, the immediate resistance area for a test lies at $0.08 and $0.085. The $0.090 level could put a stop to the rally if the price increases further.
For pullbacks, the closest level to keep an eye on is $0.0763, followed by the $0.0716 level. A deep pullback level to watch is $0.067 and $0.0655.
Key Resistance Levels: $0.08, $0.085, $0.090
Key Support Levels: $0.0763, $0.0716, $0.067
- Spot Price: $0.078
- Trend: Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
