Tron’s native coin TRX has been moving on bullish price action since the beginning of the month. Tron had announced in the past weeks, that, it is soon to be going live with its algorithmic stable coin USDD. Ever since this development, the anticipation caused prices of TRX to surge.
TRX has been one of the top gainers in the industry. The bullish stance has made the coin go past its immediate price ceiling and pushed the coin to eye its next resistance mark. On the chart, according to its past trading sessions over the months, the coin is seen to be trading within a triangle pattern.
The triangle trading pattern has highlighted ascending support lines and descending price ceilings. TRX’s prices have shot up but even in the middle of last month, the coin was seen trading close to its crucial support level. Prices of the coin was seen dipping slightly on charts, due to a case of profit taking at the time of writing.
Tron Price Analysis: One Day Chart
Tron was priced at $0.081 at the time of writing. Soon after touching the resistance mark of $0.087, the coin noted a pull in prices. This can be pointed towards profit-taking. A heavy inflow of buyers in the market also validates the same reading.
A fall from the current level could push the coin to trade near the $0.075 price level, breaching which TRX could trade close to $0.067. On the upside, if prices don’t correct then TRX might push further up as buyers have flocked the market.
In case of a bullish pressure, the coin could…