Tron Seems to be Approaching the Bulls; Likely to Face Resistance at $0.01385

• Tron is currently being traded at 0.01381754 USD after an overnight hike of 2.64%.
• The bullish momentum may push the value further to the next resistance of 0.01385 USD.

Tron has stepped into the new week with a bullish trend, as observed. Over the last day, it has managed a hike of over 2.5%. The current value roams around 0.01381754 USD. The ongoing momentum is likely to stay here for a while, finally pushing it towards its first resistance at 0.01385 USD.

Tron Price Analysis

Tron started the day trading at a moderately low value of 0.01346157 USD. Over the initial 4 hours, it managed to grow by 3.31% that impressively pushed the value to 0.01390716 USD. However, the TRX suddenly fell into a phase pf price correction and lost 3.03% by 09:05 UTC to find itself at 0.01349040 USD. The next swing pushed the value upwards which helped the price of Tron to elevate by 3.08%. However, unable to hold, TRX price fell to lose 3.45% and it got placed at 0.01342671 USD by 23:49 UTC. From there, the coin has been showing an uptrend when concerned to the intraday movement and it is currently hovering around 0.01381754 USD.

There has been a massive change in the market cap of Tron. Between January 05–06, 2020 the market cap has been beefed up to 921.281 million USD from 908.402 million USD.

TRON Price Prediction

Tron’s 20-day MA and 50-day MA are providing an immediate support at $0.01377 and $0.01376 respectively. It seems to be hinting at the onset of bullish moment anytime soon. However, as per TRON Forecast, it is predicted that the Tron to find its next resistance soon at $0.01385, as if the coin continues the growth momentum and thereby, the coin is likely to end this quarter on a bullish note. Investors are advised to be cautious of any sudden movement that may compromise their profit positions due to inherited volatility.