• Tron (TRX) price recently started a fresh downside correction from the $0.0855 zone against the US Dollar.
• There is a key bullish trend line forming with support near $0.0777 on the 4-hour chart.
• TRX price could continue to move down if it breaks the $0.0768 support zone.
Tron (TRX) Price Analysis
Tron price started a fresh decline below the $0.0820 level against the US Dollar, similar to Bitcoin’s bearish momentum. TRX price could accelerate lower if there is a move below the important $0.0768 support zone in the near term.
Key Uptrend Support Intact
There is a key bullish trend line forming with support near $0.0777 on the 4-hour chart of TRX/USD (data feed via Kraken). The pair could continue to move down if it breaks below this important trend line and the crucial $0.0768 support zone in the near term.
Resistance Levels
On the upside, TRX is facing resistance near the $0.0800 level, followed by its previous all-time high at 0$.0820 and 0$.0855 levels respectively. A close above 0$.0820 is needed for a fresh increase in TRON price towards its next major target at 0$.0855 in the coming days..
Support Levels
On the downside, initial support for Tron’s price can be seen near 0$.0777 level and its 55 simple moving average (4 hours). If there is any further downward pressure, then more losses might call for a move towards 0$.0700 mark in short term trading sessions..