Tron Price Analysis: Key Uptrend Support Intact, TRX Bullish Rally Imminent?

• Tron (TRX) price started a fresh downside correction from the $0.0855 zone against the US Dollar.
• There is a key bullish trend line forming with support near $0.0777 on the 4-hour chart (data feed via Kraken).
• TRX price could accelerate lower if there is a move below $0.0768.

Tron Price Analysis

Tron price started a fresh decline below the $0.0820 zone against the US Dollar, similar to Bitcoin. The bulls were active near the $0.0770 level and a key bullish trend line with support near $0.0777 was formed on the 4-hour chart (data feed via Kraken).

Resistance & Support Levels

On the upside, TRX is facing resistance near the $0.0800 level followed by the first major resistance at $0.082 level. On the downside, initial support is near the $0.0777 level and trend line while next major support is around$ 0.0768 which is also 76% Fib retracement of upward move from swing low to high of recent surge before correction started . Below this, there could be more losses towards$ 0.0720 area in near term .

Technical Indicators

The MACD for TRX/USD is slowly losing momentum in bearish zone while RSI for TRX/USD remain above 50 levels which indicates neutral bias presently .

Key Support Levels

$ 0.0768 and $ 0 . 0720 are important support levels for Tron (TRX ) .

Key Resistance Levels

$ 0 . 08 ,$ 0 . 08 2 and$ 0 . 08 55 are important resistance levels for Tron (TRX)