Tron Price is in a Bullish Upswing Above $0.05543

Tron price analysis suggests a strong bullish trend as the coin has raced higher after crashing down at the start of the trading session due to a surge up to $0.0546 support level and a resistance level of $0.05549. Today, the cryptocurrency continues a bullish movement and is at $0.05543. Further intensification of the ongoing bullish wave is expected if the buying momentum gets stronger.

TRX/USD is trading at $0.05543, and it is currently facing strong resistance at this level. The market has the potential to move further up if the bulls can break above this resistance area. The market capitalization is at $5,099,717,533, and the 24-hour trade volume is at $135,096,250. However, the cryptocurrency shows potential for a reversal, as the recent price analysis indicates the TRX price is moving toward the resistance.

The 1-day price analysis of Tron confirms a strong bullish trend for today. The bulls have controlled the market throughout the day as the price has broken above the resistance at $0.05549 in the past few hours and the support level at $0.0546.

TRX 1-day Trading Chart (Source: TradingView)

The technical analysis on the 1-day price chart shows that the price is still in a bullish trend because it is trading above $0.05543. The moving average convergence and divergence (MACD) indicator is in the bullish zone, and the RSI indicator is also in the overbought region, which indicates that the bulls are in control of the market. Also, the MA line curve indicates a bullish movement.

However, while tracing the path of the TRX/USD, we can deduce that the price has entered bullish territory recently, followed by an inclining movement, and has continued following an upward approach.

The 4-hour price analysis of TRX is showing signs of an uptrend as the price has been increasing for the last two days. There have been instances where the bears gained dominance, but from an overall view, the bulls have been in the lead. The TRX/USD price has also seen upward movement in the last 24 hours and is now at the $0.05543 level. Meanwhile, the moving average (MA) value in the 4-hour price chart is at the $0.05534 level.

Overall, Tron’s price analysis concludes that there is significant room for further growth of the cryptocurrency, but that at this time, the market seems to be favoring a breakout that might be profitable for the bulls. They might alter the situation and seize control of the market.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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