turning bullish across all time frames

TRON has risen sharply higher alongside the broader cryptocurrency market, as bullish tones spread through the altcoin space.

TRON technical analysis shows that the TRX/USD pair could be preparing to test the $0.030 resistance level over the medium term.

TRON medium-term price trend

TRON is fast approaching the psychological $0.020 resistance level, due to strong buying demand for altcoins.

TRON price analysis shows that the cryptocurrency could rally towards key long-term trendline resistance, around the $0.030 level.

The daily time frame shows that the TRX/USD pair has now turned technically bullish, and is trading above its key 200-day moving average.

With a meaningful price trend, TRON may be headed towards some important resistance areas above the $0.020 level.

The 50 per cent Fibonacci retracement of the current 2020 high to the 2020 low is located around the $0.024. A break above this level exposes further upside towards the and $0.030 level.

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Watch out for long-term trendline resistance from June 2018 to the 2019 yearly high, which is located around the $0.030 level.

TRON short-term price trend

The TRX/USD pair has a short-term bullish bias while the price trades above the $0.016 level.

TRON technical analysis shows that a bearish head-and-shoulders pattern has recently been invalidated.

TRON price analysis

According to the size of the invalidated head-and-shoulders pattern, the TRX/USD pair could be set to rally towards the $0.2300 level.

Watch out for further short-term gains in the TRX/USD pair while price trades above the head of the bearish pattern, which is located close to the $0.019 level. 

TRON technical summary

TRON technical analysis shows that the cryptocurrency may start to rally above the $0.020 resistance area. Bulls may be targeting key trendline resistance, around the $0.030 resistance level, over the medium term.

Trade TRON to US Dollar – TRX/USD CFD

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