The TRON course could now break out bullishly against BTC. Can the TRON price climb to ATH or even exceed it?
The TRON course is about to make a bullish breakout
The TRON course is about to make a bullish breakout. If TRON now breaks the golden ratio resistance at 0.00000312 BTC, it could rise to the next Fib resistance around 0.0000082 BTC. In order to have a chance of reaching the ATH, TRON would first have to break the golden ratio at around 0.000013 BTC.
In addition, the MACD in the monthly chart is clearly bullish because the histogram is ticking bullishly higher and the MACD lines are crossed bullishly.
If TRON is now rejected bearishly, TRON will find support between 0.0000014 – 0.0000017 BTC at the latest.
TRON price falls around 50% this month
So far, the TRON price has fallen around 50% in June. Instead of continuing bullishly from last month, TRON price closed below the 0.382 Fib resistance at $0.081 last month. The TRON course then returned to support at USD 0.047, which TRON currently seems to be bouncing off.
TRON price bounces around 26% of support
In fact, TRON price has already bounced 26% off the support and is now above the $0.058 support. If TRON closes above this week, it would be an indication of a continuation of the upward movement.
In addition, the MACD lines in the weekly chart are still bullishly crossed, but the histogram is already ticking bearishly lower.
A death cross is now establishing itself in the daily chart
A death cross is now forming in the daily chart, which would confirm the trend bearishly in the short to medium term. Also, TRON was rejected in the course of bouncing off the support at the nearest Fib resistance around $0.064. This suggests that TRON could return to support at $0.047. In addition, the MACD lines are bearishly crossed, but the histogram is ticking bullishly higher.
Significant Fib resistance is already waiting at USD 0.075, USD 0.081 and at the USD 1.00 mark. To turn bullish again and have any chances of cracking the ATH, TRON must first bullishly break the golden ratio around $1.3.
Until this has happened, TRON is still in a bearish downtrend.
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