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The price of TRON (TRX) has been steadily rising and has surpassed the $0.29 threshold.
TRON price long-term forecast: bullish
The price of the cryptocurrency has challenged the barrier twice before resuming its uptrend. TRON is aiming to surpass the previous high of $0.34. The altcoin is currently at a modest retracement approaching its breakout level.
On the downside, TRON's uptrend will resume if it retraces and stays above the $0.29 support. The cryptocurrency is on track to reach the next high at $0.34. If TRON loses the $0.29 support, it will fall to the $0.27 level or above the moving average lines.
TRON price indicators analysis
The 21-day and 50-day SMAs are trending upwards, indicating a smooth rise. The price bars are above the 21-day SMA, which is a bullish signal. The bullish signal will be broken if the 21-day SMA is breached.
Technical Indicators
Key Resistance Zones: $0.40, $0.45, and $0.50
Key Support Zones: $0.20, $0.15, and $0.10
What is the next move for TRON?
TRON continues its uptrend but is trading below its recent high. The 4-hour chart shows that TRON is bouncing above the moving average lines but below the high of $0.305. The price of the cryptocurrency has recovered after retreating above the $0.299 support level. TRON will rise as long as it remains in a positive trend zone and above the $0.21 daily SMA support.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.