Tron (TRX) Price Analysis – April 4
The Tron price is maintaining an uptrend as the bulls come together to increase buying pressure in the market.
Resistance levels: $0.013, $0.014, 0.015
Support levels: $0.090, $0.095, $0.080
As it appears on the daily chart, TRX/USD remains in an upward movement recording a 19.51% positive change. Similarly, as the bullish movement continues, the next level of resistance lies at $0.013 and $0.014. Further rise above these price levels may push the price to $0.015 resistance.
What to Expect from Tron (TRX)
Looking at the daily chart, the market price remains far above the 9-day and 21-day moving averages heading to the upper boundary of the channel. Considering a downtrend for TRX/USD pair, traders may need to see a movement towards the moving averages that could bring the coin below the channel to hit the support levels of $0.090, $0.095, and $0.080.
Meanwhile, the daily chart reveals that the trading volume appears high while the technical indicator RSI (14) is flying high within the overbought region which is suggesting more bullish signals into the market.
TRX/BTC Market: Bulls are Flexing their Muscles
Against Bitcoin, TRX is currently changing hands at 230 SAT and if the bulls can hold the price tight as it is, the next key target price lies at 250 SAT and 270 SAT respectively. Reaching these levels may likely move the market to the 290 SAT level. Meanwhile, RSI (14) has been moving within the overbought condition for the past few days, making the market to be at the upward trend for now.
Furthermore, if the bulls failed to push the price above the upper boundary of the channel, the market could begin a downward trend and TRX/BTC may likely see a sharp drop towards the moving averages. However, breaking this barrier could further drag the market price to the nearest support level at 160 SAT and below.