• Tron (TRX) price recently started a fresh increase from the $0.0712 support zone against the US Dollar.
• TRX’s price is now trading below $0.0780 and the 55 simple moving average (4 hours).
• There is a major bullish trend line forming with support near $0.0752 on the 4-hours chart (data feed via Kraken).
Tron (TRX) Price Analysis: Dips Supported Near $0.075
Bullish Trend Line Forming
Tron price recently started a fresh increase above the $0.0720 support level against the US Dollar. TRX price is now trading below $0.0780 and its 55 simple moving average (4 hours). Additionally, there is a major bullish trend line forming with support near $0.0752 on the 4-hours chart (data feed via Kraken). The pair could continue to move up in case it breaks through the resistance at $0.0780 zone.
When it comes to resistance levels, TRON has faced resistance near the $0.0770 level already and could see further resistance at around $0.078 level if it continues to rise in value in the near future. If it manages to break through both of these resistances, then it could send TRX’s price towards its next resistance point of around $0.0800 or even higher at around $ 0 .0825 – 0 .085 range if successful in breaking through this one as well..
On downside, initial support for Tron is located near the mark of$ 0 .07520 where there is also a major bullish trend line forming according to data from Kraken’s feed on 4 hour charts.. Other minor supports lie at around 61 .8% Fib retracement level of an upward wave fromthe swing low of$ 0 .069 to high of$ 0 .0798and lastly at around$ 0 .7100mark if any further drops occur in prices..