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Tron price rebounds on Fib support - is it rising now?



The Tron course reached the golden ratio support and bounced off violently. Is there now an upward movement for the TRX price?


Tron price hits golden ratio at $ 0.073 and bounces off it

In this bull market, the Tron price experienced just as gigantic an upward trend as most established cryptocurrencies. However, Tron did not reach the all-time high at USD 0.3, but rather formed a high point at USD 0.18. As a result, the TRX price corrected sharply downwards, finding support at USD 0.05. In the course of this, the TRX price rose to the golden ratio resistance at 0.13 USD, whereupon the Tron price was violently rejected. This was followed by a decrease in the golden ratio support at around 0.07 USD, which Tron is currently bouncing off strongly.


Previously, the Tron price was rejected at the golden ratio resistance at USD 0.13

In the weekly rate, the MACD is still bearish: the MACD lines are crossed in a bearish manner and the histogram is ticking downward in a bearish manner. Should the TRX price continue its short-term upward movement, it will already find significant resistance at USD 0.10. If this is broken, the TRX price could rise again to the golden ratio at USD 0.13.


There is still a golden crossover in the daily rate

In the daily rate, the MACD is rather bullish, which indicates a continuation of the short-term upward movement. Because the histogram is ticking bullish upwards and the MACD lines are about to cross over bullishly. However, the 50-day EMA acts as additional resistance at the exact 0.382 Fib resistance around USD 0.10.


In the 4H chart there is already a death cross for the TRX price

There is already a death cross in the 4H chart, which confirms the trend bearish in the short to medium term. Although the TRX price can rise to the next Fib resistance at USD 0.10 or even to the golden ratio at USD 0.13, its trend remains bearish until it breaks the golden ratio at USD 0.13. Since Tron's price is currently clearly bearish, the correction phase could continue in the medium term and TRX could move to lower regions. Should the golden ratio support break around $ 0.07, Tron will find next support at $ 0.05.


The TRX course is now meeting with support against BTC

In the weekly course against BTC, the Tron course is quite unspectacular. For a few months now, the TRX price has formed a series of lower highs and is currently at a historical support between 0.00000137 - 0.0000017 BTC. Should Tron rise now, it will already encounter resistance at 0.00000219 BTC and 0.00000312 BTC.

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