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TRX/USD Eyes $0.1060 as Bullish Momentum Builds

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Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
By Arslan Ali Butt
author
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
on December 28, 2023 | 2 min
Updated on Dec 28, 2023
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  • TRON’s TRX current price shows a promising uptrend, trading at $0.105742.
  • Key technical levels suggest potential for further growth above $0.1060 resistance.
  • Positive RSI and MACD values reinforce the bullish trend for TRON.

In the current digital currency landscape, TRON (TRX/USD) is emerging as a noteworthy contender, displaying a positive trajectory in recent market trends. As of December 28, the live TRON price stands at an impressive $0.105742, marking a 3.00% increase over the last 24 hours. This bullish pattern has propelled TRON’s market capitalization to $9.34 billion, securing its position as the 14th ranked asset on CoinMarketCap. With a considerable circulating supply of over 88 billion TRX coins, TRON’s presence in the cryptocurrency sector is unmistakable.

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TRX/USD Price Chart
TRX/USD Price Chart – Source: Tradingview

TRON (TRX) Price Prediction: Technical Outlook

TRON’s market activity unfolds within a framework of key technical levels. The pivotal point for TRON is currently set at $0.1040. Looking upwards, the immediate resistance for TRON lies at $0.1103, with additional resistance markers at $0.1143 and $0.1206. On the downside, support levels are observed at $0.1000, $0.0936, and $0.0895. These levels provide crucial insights for traders and investors, offering a clear understanding of TRON’s potential price pathways.

The Relative Strength Index (RSI) for TRON stands at a moderate 55, suggesting a balanced yet leaning towards bullish market sentiment. This indicator points to the potential for further upward movement. Complementing this optimistic outlook, the Moving Average Convergence Divergence (MACD) exhibits a value of 0.00013427, indicating possible upward momentum, especially when compared to its signal line at -0.00000700.

A critical observation in TRON’s technical analysis is the presence of a downward trendline extending resistance near the $0.1060 mark. This trendline plays a pivotal role in determining TRON’s market direction. Presently trading above its 50-Day Exponential Moving Average (EMA) of $0.1048, TRON reinforces a short-term bullish inclination, further underlining the positive market sentiment.

In conclusion, the overall market trend for TRON appears bullish, especially if it surpasses the $0.1060 resistance level. This bullish stance is bolstered by the combination of technical indicators and the observed trendline, suggesting that TRON could be poised for continued growth. Traders and investors should closely monitor these levels and indicators to capitalize on potential market movements. The current technical outlook for TRON points towards an encouraging future for the cryptocurrency, potentially leading to significant market gains in the short term.

Stay tuned for more updates!

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About Arslan Ali Butt
Arslan is an expert live webinar speaker and derivatives analyst, specializing in cryptocurrencies, Forex, commodities, and indices. He holds an MBA in Finance and an MPhil in Behavioral Finance from the University of Gujrat (UOG), Pakistan. With many years of experience in cryptocurrency and Forex trading, Arslan currently focuses on cryptocurrency price predictions and forecasts. Arslan has previously worked with several brokerage firms’ Forex and cryptocurrency trading teams, managing client exposure risk. Arslan has worked at CAPEX.com and NatureForex.com, among others.
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