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Will Tron continue the strong rally?



 The majority of coins traded in the red on Tuesday after the market fell sharply. Nonetheless, several coins were still trading in the green and showing signs of strength even when sentiment was bearish. Tron (TRX / USD) was one of the few positively traded coins. This points to an upward move in the coming weeks, especially after its most recent breakout earlier this month.

  • TRX broke out of a symmetrical triangle it had traded under for over six months earlier this month. However, shortly after the breakout, TRX was unable to cope with the market collapse and fell over 25%.

  • TRX has received support from the strong demand zone at $ 0.09 and is about to break out of the resistance at $ 0.099.

  • As soon as the big coins trade in the green, Tron could also expect a big boost.

  • The first target can be set at $ 0.117 followed by $ 0.13.

  • A stop loss can be set below the demand zone.

Conclusion

TRX looks very bullish for the coming weeks, especially after weathering this week's most recent slump. This suggests that Trx could start a sharp rally after a market rally. To confirm the bullish tendency in the coming weeks, an entry above USD 0.099 can be made.

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