- TRON records 19.24% hike in the last seven days
- TRX holds the possibility of downside correction; However, the overall trend remains bullish
Like most of its peers, TRON cryptocurrency also has fetched the last week with bullish impact. In the past 7 days, the coin has managed a shooting up of 19.24% that took the TRX price from $0.016283 to $0.019416. The medium-term outlook seems to have another series of bullish rallies.
TRON Price Analysis
On January 24, TRX coin opened the day at $0.016283, and its first major swing happened between January 24 & 29. In these five days, it supported by an upward trendline, and it shows the upside movement of TRON coin. On January 29, the price touched a weekly high of $0.01960. Later, TRX coin corrected downwards by 9.03% on January 30, and this swing took the price to $0.01786. Today, the currency spotted a steep hike and in the last 24 hours, the coin again started trading with bullish impact after an upsurge of 9.16%.
TRON’s current price at $0.019416 is trading below its daily short-term moving averages. At the time of writing, the TRX coin has shown slight downside correction, and hence, as per TRON predictions, it may trade downwards to the next support around $0.01840 in the upcoming hours. However, investors should aim for the long-term outlook for getting maximum returns.
Resistance and Support Levels
R1: $0.02015, R2: $0.02081 and R3: $0.02190
S1: $0.01840, S2: $0.01731 and S3: $0.01666