Lorenzo Stroe
Independent Analyst
- Tron price has found a strong support trendline on the 4-hour chart.
- The digital asset faces only one significant barrier before a potential 30% breakout.
- TRX must not lose the key support level at $0.052 to avoid a significant drop.
Tron price hit a new 2021-high at $0.061 on February 13 and had a major 25% correction down to $0.045. Since then, the digital asset has established a robust support trendline and aims for a breakout above a crucial resistance point.
Tron price is on the verge of a 30% move
On the 4-hour chart, TRX bulls have established a strong support trendline formed since February 10. The critical resistance level is $0.0537, which is the 78.6% Fibonacci level of the $0.027 to $0.061 rally.
TRX/USD 4-hour chart
Tron price has been rejected several times from this crucial resistance point. A breakout above $0.0537 will quickly push Tron price to at least the last high of $0.061 and potentially as high as $0.07, which is the 127.2% Fibonacci level.
TRX/USD 4-hour chart
On the other hand, if the bulls can't hold the key support trendline, Tron price can quickly dive towards the 61.8% Fibonacci level at $0.047 and the 50% level at $0.0437. TRX could drop as low as $0.039 at the 38.2% Fib level.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
White House Crypto Summit could boost adoption across financial markets: Binance exec Rachel Conlan
Trump’s White House Crypto Summit is hours away, and executives maintain optimism and a positive outlook on crypto adoption. Rachel Conlan of Binance expects increased institutional and retail participation.
Bitcoin Weekly Forecast: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?
Bitcoin (BTC) remains under pressure and continues its decline, trading around $88,900 at the time of writing on Friday and falling over 5% this week.
Solana’s co-founder says ‘No Reserve’ to SOL as a part of Trump’s Crypto Strategic Reserve
Solana price stabilizes and trades around $142.8 at the time of writing on Friday after falling nearly 20% this week. Solana co-founder Anatoly Yakovenko raised concern about SOL as part of the US Crypto Strategic Reserve on his social media X.
BTC, ETH and XRP struggle despite Trump’s Bitcoin Reserve order
Bitcoin price is extending its decline on Friday after falling more than 7% so far this week. Ethereum price is retesting its key support level at around $2,125; a close below would extend the correction.
Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?
Bitcoin (BTC) remains under pressure and continues its decline, trading around $88,900 at the time of writing on Friday and falling over 5% 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.