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3 reasons why TRON could take off soon

 


TRON price could now break out to the upside compared to BTC. Is it possible for TRON price to reach, if not exceed, ATH?


TRON price is on the verge of a bullish breakout

TRON price is on the verge of a bullish breakout. TRON could rally to the next Fib resistance around 0.0000082 BTC if it breaks the golden ratio resistance at 0.00000312 BTC. On the other hand, TRON would have to break the golden ratio at around 0.000013 BTC to have any chance of hitting the ATH.


The MACD on the monthly chart is also clearly bullish as the histogram is ticking up and the MACD lines are crossing to the upside.


TRON will find support no later than between 0.0000014 and 0.0000017 BTC if it is currently bearishly rejected


This month, the price of TRON has fallen by about 50%

In June, the price of TRON fell by about 50%. TRON price ended below the 0.382 Fib resistance at $0.081 for the last month instead of climbing higher compared to the previous month. TRON price then fell back to the USD 0.047 support, from which it now appears to be bouncing.


TRON price has bounced off support by 26%

In fact, TRON has already bounced off support by 26% and is now trading above USD 0.058. If TRON closes above this level this week, it will be a sign that the uptrend will continue.


Furthermore, the weekly chart's MACD lines are still crossed upwards, but the histogram is already sloping down.


A death cross is forming on the daily chart, which would confirm the bearish trend in the short to medium term. TRON also bounced off support at the following Fib resistance level, which stood at $0.064. As a result, TRON might reclaim the support at USD 0.047. The MACD lines are also crossed bearish, but the histogram is ticking bullishly higher.


Significant Fib resistances are already on the upside at $0.075, $0.081 and $1.00. TRON must first break the golden ratio up around $1.3 to turn back up and have a chance to crack the ATH.

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