BTC / USD
23,262.68
2.03%
(+463.89)
ETH / USD
1,675.95
3.44%
(+55.73)
XRP / USD
0.40
3.19%
(+0.01)
LTC / USD
100.93
4.68%
(+4.51)
EOS / USD
1.11
5%
(+0.05)
BCH / USD
136.21
3.42%
(+4.51)
ADA / USD
0.40
4.75%
(+0.02)
XLM / USD
0.09
3.84%
(0)
NEO / USD
9.19
5.66%
(+0.49)
XEM / USD
0.04
6.74%
(0)
DASH / USD
65.54
5.25%
(+3.27)
USDT / USD
1.00
0%
(0)
BNB / USD
332.77
2.35%
(+7.65)
QTUM / USD
2.98
5.63%
(+0.16)
XVG / USD
0.00
6.4%
(0)
ONT / USD
0.24
5.92%
(+0.01)
ZEC / USD
46.92
7.54%
(+3.29)
STEEM / USD
0.23
1.94%
(0)

Why TRX Could Outperform BTC and ETH

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Tron price is up over 5% and showing positive signs above $0.055 against the US Dollar. TRX could outperform bitcoin and rise further towards $0.060.

  • Tron price is trading in a positive zone well above the $0.0520 pivot level against the US dollar.
  • The price is showing positive signs above $0.055 and the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $0.0530 on the 4-hours chart of the TRX/USD pair (data source from Kraken).
  • The pair is likely to start a fresh increase above the $0.0562 and $0.0575 resistance levels.

Tron Price Jumps 5%

In the past few days, tron price remained strong above the $0.0520 level against the US Dollar, outperforming bitcoin and ethereum. TRX gained pace for a clear move above the $0.055 resistance and the 100 simple moving average (4-hours).

The price traded to a new weekly high at $0.0575 and it is currently correcting gains. There was a move below the 23.6% Fib retracement level of the recent rally from the $0.0519 low to $0.0575 high. Trx price is now trading above $0.055 and the 100 simple moving average (4-hours).

It is also above the 50% Fib retracement level of the recent rally from the $0.0519 low to $0.0575 high. On the upside, an initial resistance is near the $0.0562 level.

Source: TRXUSD on TradingView.com

The next major resistance is near the $0.0575 level, above which the bulls are likely to aim a larger increase towards the key $0.0600 zone in the coming sessions. Any more gains could set the pace for a move towards the $0.0645 level.

Dips Likely to be Limited in TRX

If TRX price fails to clear the $0.0575 barrier, it could correct lower. An initial support on the downside is near the $0.0550 zone, where the bulls are currently taking a stand.

The next major support is near the $0.0540 level and the 100 simple moving average (4-hours). The main support is near the trend line and $0.0530, below which there is a risk of a move towards the $0.050 support.

Technical Indicators

4-hours MACD – The MACD for TRX/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for TRX/USD is currently above the 50 level.

Major Support Levels – $0.0550, $0.0542 and $0.0530.

Major Resistance Levels – $0.0562, $0.0575 and $0.0600.

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