TRON Continues To Rise And Recovers Above $0.14

Feb 29, 2024 at 15:38 // Price
Author
Coin Idol

The price of TRON (TRX) has continued to rise gradually and has surpassed the previous high of $0.14.

Long-term forecast for TRON price: bullish

On February 21, the bullish momentum remained firm at a high of $0.14. The recent high was broken after 5 days of volatility below this level. The altcoin peaked at $0.1440 before being pushed back. TRON has started a bullish climb after it dipped and retested the support at $0.14. If buyers can break the barrier above $0.1440, the market will reach a high of $0.1525. In the meantime, TRON is trading at $0.1421.

TRON indicator display

TRON price bars have continued to rise above the upward sloping moving average lines. The doji candlestick continues to dominate the price action. The altcoin is now trading in the overbought sector of the market.

Technical indicators 

Important supply zones: $0.09, $0.10, $0.11

Important demand zones: $0.06, $0.05, $0.04

TRXUSD_ (Daily Chart) – FEB.28.jpg

What is the next direction for TRON?

TRON has resumed its positive trend and is retesting the $0.14 support in anticipation of a rise. The altcoin is rising as it approaches the resistance level of $0.1440. Once the altcoin breaks through the $0.1440 barrier, it will begin an advance.

TRXUSD_ (4 hour Chart) – FEB.28.jpg

Disclaimer. This Analysis and forecast are the personal opinions of the author and 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.

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