• Tron price started a fresh increase from the $0.0645 level against the US Dollar.
• There is a major bearish trend line forming with resistance near $0.0728 on the 4-hours chart (data feed via Kraken).
• TRX price could rise further if it clears the $0.074 resistance zone.

TRON (TRX) Price Analysis

Tron price started a fresh increase from the $0.0645 level against the US Dollar, similar to Bitcoin. TRX’s price could rise further if it clears the $0.074 resistance zone. There is a major bearish trend line forming with resistance near $0.0728 on the 4-hours chart (data feed via Kraken).

Upside Resistance

On the upside, TRX is facing resistance near the $0.0725 level. There is also a major bearish trend line forming with resistance near $0.0725 on the 4-hours chart. The next major resistance is near the $0.074 level and the 55 simple moving average (4 hours). It is close to the 50% Fib retracement level of the downward move from the $0.0856 swing high to the $0.0646 low, and if breached, will send TRX price towards $0.0780 support zone or even higher towards its all time high at around 0$.082 .

Downside Support

On he downside, initial support for Tron lies at around 0$.070 and then 0$.0645 levels respectively, below which more losses might be seen dragging down prices as far as 0$.0620 in te short term .

Technical Indicators

The MACD for TRX/USD shows that prices are gaining momentum in te bullish zone while RSI stands above 50%.

Conclusion

Overall, Tron price could continue to move up if it breaks above te 0$.0740 resistancezone , otherwise expect more losses inthe short term .