• Tron price started a fresh decline from the $0.0934 resistance against the US Dollar.
  • TRX price is now trading below $0.0850 and near the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $0.0820 on the 4-hours chart (data feed via Bitfinex).
  • The pair could start a major increase if there is a clear break above the $0.0820 resistance.

TRON price started a recovery wave from $0.0750 against the US Dollar, similar to bitcoin. TRX price is recovering, but it must clear $0.0820 for more gains.

Tron Price Analysis

After facing resistance, tron price started a fresh decline below the $0.0880 level against the US Dollar. TRX price even broke the $0.0850 support level to enter a bearish zone.

A low was formed near $0.0749 and the price started a recovery wave. There was a break above the $0.0765 level. The price even climbed above the $0.0780 level, but it is still below the 55 simple moving average (4-hours). H

There was a break above the 23.6% Fib retracement level of the downward move from the $0.0938 swing high to $0.0749 low. An immediate resistance on the upside is near the $0.0820 level and the 55 simple moving average (4-hours).

There is also a major bearish trend line forming with resistance near $0.0820 on the 4-hours chart. A close above $0.08200 is must for a fresh increase. In the stated case, the price could rise towards the $0.0850 resistance in the near term.

It is near the 50% Fib retracement level of the downward move from the $0.0938 swing high to $0.0749 low. Any more gains could set…


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