TRON’s price shows a move towards its highs while breaking the daily chart’s resistance line of $0.071. During mid-May, the price moved sideways on the horizontal line as neither the bears nor the bulls could take major price action. During an intraday session on May 25, the price rallied significantly.
The TRX price is taking the support of the up-trend line and is forming higher highs; however, once the token closes above the recent high of $0.092, an upcoming bullish momentum can be expected. On May 11, there was an immense bearish volume, but the TRX price couldn’t close below the low of $0.062, and the forming candles continued to mount up, rejecting further decline.
The Signal Line is trading below the MACD line, indicating bullish momentum. The RSI is at 56 and is currently neutral, but it may reach its overbought zone if the bulls continue to push the price upside. Check TRON prediction to know if TRX will continue the uptrend or not!
There was a triangle pattern formation on the weekly chart, and the price suppressed the trend lines. The technical parameters show an up-trending move of the TRX token, and if the price continues to move on the edges of the trend line, it may reach its all-time high in the long run.
The previous week’s candle also gave significant returns. TRON prices closing beyond $0.0800 suggests room for the upside. Traders are waiting for good buying volumes on the counter to see decent price appreciation with momentum as there exists a general bear sentiment in the overall crypto markets.