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TRON price forecast: will the TRX price break out bullishly?

 


The TRON price is currently struggling with the 200-day EMA at around USD 0.07, while the 50-day EMA serves as support at around USD 0.068.


TRON price is struggling with 200-day EMA resistance

The TRON course is currently giving mixed signals, with a bullish tendency. On the daily chart, the EMAs are still in a death cross, confirming the trend for the short-term. However, the EMAs are converging and while the 50-day EMA is serving as support at around $0.0684, the 200-day EMA is acting as significant resistance at around $0.07, where TRON has already been rejected multiple times.


If the TRX price bullishly breaks the 200-day EMA at around USD 0.07, the next significant Fibonacci resistance awaits at around USD 0.075. Additionally, MACD histogram is ticking bullish higher while MACD lines are bullish crossovers. The RSI is neutral and gives neither bullish nor bearish signals.


In the weekly chart, the TRX course is bullish


In addition, the 50-week EMA is located at around USD 0.0713, which also acts as a significant resistance. If TRON breaks this resistance and in the course of this also the golden ratio at around USD 0.075, the TRX price could rise to the next Fib resistance at around USD 0.1.


In addition, the histogram is also ticking bullishly higher in the weekly chart and the MACD lines are bullishly crossed. In addition, the RSI gives neither bullish nor bearish signals even in the weekly chart.


TRON price has been closing higher for months


The monthly chart is really interesting because the TRX price has been gradually closing higher for a few months. The series of higher monthly closing prices basically points to a bullish breakout. Should TRON break past the golden ratio around USD 0.075 and USD 0.1, the crucial key resistance awaits around USD 0.13 before TRON finds itself back in a new bull cycle.


TRON price is on the verge of a bullish breakout

Against BTC, the TRON course is about to have a bullish breakout. Should TRON break the golden ratio at around 0.00000312 BTC, the next significant Fib resistance awaits at around 0.00000821 BTC. In the event of a bullish breakout, the TRX price could almost triple. In addition, the MACD in the monthly chart is clearly bullish, because the MACD lines are bullishly crossed and the histogram is ticking bullishly higher.


So far, however, TRON has been bearishly rejected at the golden ratio resistance around 0.00000312 BTC and is now finding significant support at the 50-month EMA at the 0.382 Fib level at around 0.0000027 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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