Tron price has been making significant gains above the $0.1150 resistance level against the US dollar. The price is currently trading above $0.1155 and the 100-hourly simple moving average, showcasing a positive trend in the market.
A key bullish trend line is forming with support at $0.1160 on the hourly chart of the TRX/USD pair. This indicates a strong support level for Tron, further solidifying its upward movement in the market.
On the upside, an initial resistance is seen near the $0.1170 level, with the first major resistance at $0.1180. If Tron price continues to rise, it could accelerate higher towards $0.1200 and even $0.1220. The next major resistance is at the $0.1320 level, signaling potential for further growth in the market.
In case of a downside correction, the initial support for Tron is near the $0.1160 zone. The first major support level lies at $0.1150 or the 100 simple moving average (4 hours). Further losses could test the $0.1140 mark, potentially leading to a drop in Tron price.
The hourly MACD for TRX/USD is gaining momentum in the bullish zone, indicating a positive trend in the market. Additionally, the hourly RSI for TRX/USD is currently above the 50 level, showing a bullish sentiment among traders.
Overall, Tron price has shown significant positive movement, with potential for further growth in the market. With key resistance levels at $0.1180, $0.1200, and $0.1220, Tron could continue to rise in the coming sessions. However, it is important to keep an eye on the support levels at $0.1160, $0.1150, and $0.1136 to gauge the potential downside risks.