The cryptocurrency TRON (TRX) has been showing signs of resilience despite the instability of the crypto market. After reaching a new yearly high of $0.073, TRX has been trading slightly below the long-term descending resistance line for the past 364 days, creating a bearish trend. Nonetheless, looks promising from a technical perspective as readings from multiple time frames favor a continuation of the upward movement. The closest resistance area is at $0.072, while the closest support area lies at $0.064 and is crucial for TRX.

An analysis from the daily time frame indicates a high possibility of a breakout from an ascending triangle pattern, as the TRX price is positioned above a minor horizontal resistance area combined with a short-term ascending support line. This is further confirmed by the fact that the daily relative strength index is above 50 and increasing, showing that bulls are in control. A breakout of this pattern will take the TRX price to a new all-time high at $0.082. However, a weekly close below the ascending support line will invalidate this bullish TRON price prediction and take the cryptocurrency down to a support area at $0.064.

It is worth noting that despite the instability of the crypto market, TRX has been able to keep its value, showing resilience and strength. Therefore, it is quite likely that the situation will remain the same or TRX may even reach a new all-time high if the ascending triangle pattern is confirmed.



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