TRON (TRX) has resumed its uptrend after rebounding above the 21-day SMA support and breaking through the $0.35 resistance.
TRON price long-term forecast: bullish
If bears broken below the 21-day SMA support, TRX would have hit a low of $0.31.
Today, the bulls broke through the resistance at $0.35 and reached a high of $0.369. If buyers maintain their bullish momentum above the current barrier the cryptocurrency will return to its previous high of $0.45. TRX is currently trading at $0.369.
TRX price indicators analysis
The moving average lines on both charts are sloping north, indicating a positive trend. The 21-day SMA has held above the 50-day SMA, indicating bullish signs. Price action is characterised by doji candlesticks, which are causing the altcoin to move steadily.
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 has resumed its uptrend after breaking above the $0.32 and $0.35 barriers. On the 4-hour chart, the uptrend has stalled below the $0.37 level and the altcoin is trading in a narrow range between $0.35 and $0.37. TRON will continue its uptrend above this high.
On July 29, as reported by Coinidol.com, TRON rose to a high of $0.35, but was unable to break through the recent high.
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.