- Tron price is trading between support of the 50-day SMA and the resistance at the 200-day SMA.
- TRX/USD bullish momentum above $0.0140 is supported by the upward sloping RSI and the MACD’s bullish divergence.
Tron price has stayed in the bullish corner since it stepped above the 50-day SMA last week. The recovery was part of a bullish action commenced following a correction from the sharp dive in cryptocurrency prices in mid-March. Initially, TRX/USD pushed past the 23.6% Fibonacci level taken between the last swing high at $0.02680 to a swing low at $0.0073. However, extended movements north were limited by the resistance at $0.014 until the breakout on Monday during the Asian session.
At the time of writing, Tron is dancing at $0.0144 while battling the selling pressure at the 38.2% Fibonacci level. The bullish momentum is strongly supported by the upward sloping RSI. Because the RSI stands at 65, TRX/USD has room for growth before hitting overbought conditions.
At the same time, the MACD doubles down on the position of the buyers in the market. The divergence above the MACD signals that buying pressure is still rising. In other words, Tron could soon extend the bullish action above the 38.2% Fibo and focus on breaking the hurdle at the 200-day SMA (slightly below $0.0160). On the flip side, initial support can be observed at $0.0140, the 50-day SMA, $0.0100 and $0.0075.
TRX/USD daily chart
 (1)-637235717017703374.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: BTC, ETH, and XRP lead $1.4B capitulation on Black Monday as FTX denies $2.5B claims
Cryptocurrencies nosedived over the weekend, shedding over $300 billion since Friday. What some traders on social media are terming crypto’s Black Monday, losses come after an initial positive decoupling on Thursday, when US stocks crashed after China announced 34% retaliatory tariffs.
Bitcoin hits new yearly low below $75,000 as global trade war escalates
Bitcoin price extends its fall by 4% on Monday after correcting near 5% the previous week. The global trade war escalated, wiping out 452,976 leveraged traders and causing a total liquidation of $1.39 billion from crypto markets in the last 24 hours.
Dogecoin shatters $0.15 support as ‘Black Monday’ bloodbath fears surge
Dogecoin tumbles over 10% on Monday, slashing $3.73 billion from its market capitalization to $19.78 billion. CNBC host Jim Crammer warns of global markets’ bloodbath if US President Donald Trump stays intrasigent.
Solana Price Forecast: Bears gain momentum as SOL falls below $100
Solana (SOL) extends its loss by over 7% and falls below the $100 mark at the time of writing on Monday after crashing 15.15% last week. Coinglass data shows that SOL’s leveraged traders wiped out nearly $70 million in liquidations in the last 24 hours.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.