{"id":2179,"date":"2024-08-30T05:28:59","date_gmt":"2024-08-30T05:28:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=2179"},"modified":"2024-08-30T05:28:59","modified_gmt":"2024-08-30T05:28:59","slug":"tron-price-survives-the-storm-can-trx-climb-further","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=2179","title":{"rendered":"Tron Price Survives The Storm: Can TRX Climb Further??"},"content":{"rendered":"

Tron price is holding gains above the $0.1550 zone against the US Dollar. TRX is outperforming Bitcoin and could start a fresh increase above $0.1620.<\/em><\/p>\n

Tron is stable and holding gains above $0.1550 against the US dollar.
\nThe price is trading below $0.1620 and the 100-hourly simple moving average.
\nThere is a key rising channel forming with support at $0.1595 on the hourly chart of the TRX\/USD pair (data source from Kraken).
\nThe pair could continue to climb higher toward $0.1620 or even $0.1650.<\/p>\n

Tron Price Eyes Fresh Increase<\/h2>\n

Recently, Bitcoin<\/a> and Ethereum<\/a> saw a fresh decline below $60,000 and $2,650 respectively. However, Tron price remained stable above the $0.1550 support.<\/p>\n

A low was formed near $0.1554 and the price started a decent upward move. There was a move above the $0.1585 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.1688 swing high to the $0.1554 low.<\/p>\n

However, the bears seem to be active near the $0.1620 level. TRX price is now trading below $0.1620 and the 100-hourly simple moving average. There is also a key rising channel forming with support at $0.1595 on the hourly chart of the TRX\/USD pair.<\/p>\n

On the upside, an initial resistance is near the $0.1610 level. The first major resistance is near $0.1620, above which the price could accelerate higher. The next resistance is near $0.1650 or the 76.4% Fib retracement level of the downward move from the $0.1688 swing high to the $0.1554 low.<\/p>\n

<\/a><\/p>\n

A close above the $0.1650 resistance might send TRX further higher toward $0.1720. The next major resistance is near the $0.1740 level, above which the bulls are likely to aim for a larger increase toward $0.1850 in the near term.<\/p>\n

Are Dips Supported in TRX?<\/h2>\n

If TRX price fails to clear the $0.1620 resistance, it could start a downside correction. Initial support on the downside is near the $0.1595 zone and the channel\u2019s trend line.<\/p>\n

The first major support is near the $0.1575, below which it could test $0.1550. Any more losses might send Tron toward the $0.1520 support in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for TRX\/USD is gaining momentum in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for TRX\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.1550 and $0.1520.<\/p>\n

Major Resistance Levels \u2013 $0.1620 and $0.1650.<\/p>","protected":false},"excerpt":{"rendered":"

Tron price is holding gains above the $0.1550 zone against the US Dollar. TRX is outperforming Bitcoin and could start a fresh increase above $0.1620. Tron is stable and holding gains above $0.1550 against the US dollar. The price is trading below $0.1620 and the 100-hourly simple moving average. There is a key rising channel […]<\/p>\n","protected":false},"author":0,"featured_media":2180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2179"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2179"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/2179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/2180"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}