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TRON price analysis: turning bullish across all time frames

By Nathan Batchelor

20:01, 10 July 2020

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TRON price analysis

TRON has risen sharply higher alongside the broader cryptocurrency market, as bullish tones spread through the altcoin space.

TRON technical analysis shows that the TRX/USD pair could be preparing to test the $0.030 resistance level over the medium term.

TRON medium-term price trend

TRON is fast approaching the psychological $0.020 resistance level, due to strong buying demand for altcoins.

TRON price analysis shows that the cryptocurrency could rally towards key long-term trendline resistance, around the $0.030 level.

TRON price analysis

The daily time frame shows that the TRX/USD pair has now turned technically bullish, and is trading above its key 200-day moving average.

With a meaningful price trend, TRON may be headed towards some important resistance areas above the $0.020 level.

The 50 per cent Fibonacci retracement of the current 2020 high to the 2020 low is located around the $0.024. A break above this level exposes further upside towards the and $0.030 level.

US100

12,566.80 Price
-0.450% 1D Chg, %
Long position overnight fee -0.0183%
Short position overnight fee 0.0071%
Overnight fee time 22:00 (UTC)
Spread 3.0

XRP/USD

0.41 Price
-0.250% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00330

Oil - Crude

73.41 Price
-3.570% 1D Chg, %
Long position overnight fee -0.0223%
Short position overnight fee 0.0065%
Overnight fee time 22:00 (UTC)
Spread 0.03

BTC/USD

23,401.50 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

Watch out for long-term trendline resistance from June 2018 to the 2019 yearly high, which is located around the $0.030 level.

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TRON short-term price trend

The TRX/USD pair has a short-term bullish bias while the price trades above the $0.016 level.

TRON technical analysis shows that a bearish head-and-shoulders pattern has recently been invalidated.

TRON price analysis

According to the size of the invalidated head-and-shoulders pattern, the TRX/USD pair could be set to rally towards the $0.2300 level.

Watch out for further short-term gains in the TRX/USD pair while price trades above the head of the bearish pattern, which is located close to the $0.019 level. 

TRON technical summary

TRON technical analysis shows that the cryptocurrency may start to rally above the $0.020 resistance area. Bulls may be targeting key trendline resistance, around the $0.030 resistance level, over the medium term.

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