• Tron price started a recovery wave above $0.0800 against the US Dollar.
• TRX price is now trading below $0.0900 and near the 55 simple moving average (4-hours).
• There is a key bearish trend line forming with resistance near $0.0900 on the 4-hours chart (data feed via Bitfinex).
• The pair could start a major increase if there is a clear break above the $0.0950 resistance.

TRON price started a recovery wave from $0.0800 against the US Dollar, similar to bitcoin. TRX price is recovering, but it must clear $0.0950 for more gains.

Tron Price Analysis

After facing resistance, tron price started a fresh decline below the $0.0900 level against the US Dollar. TRX price even broke the $0.0800 support level to enter a bearish zone.

A low was formed near $0.0730 and the price started a recovery wave. There was a break above the $0.0820 level. The price even climbed above the $0.0900 level and the 55 simple moving average (4-hours). However, the price failed to gain strength for a move above the $0.0935.

A high was formed near $0.0933 and the price is now declining. It broke the $0.0900 level and the 55 simple moving average (4-hours). There was a break below the 23.6% Fib retracement level of the upward move from the $0.0727 swing low to $0.0933 high.

On the downside, an initial support is near the $0.0830 level. It is near the 50% Fib retracement level of the upward move from the $0.0727 swing low to $0.0933 high.

The first major support is now forming near $0.0800. The next major is near the $0.0780 level. Any more losses might call for a sharp decline towards the $0.0720 level. An immediate resistance on the upside is near the $0.0900 level and the 55 simple moving average (4-hours).

There is also a key bearish trend line forming with resistance near $0.0900 on the 4-hours chart. A close above $0.0900 is must for a fresh increase. In the stated case, the price could rise towards the $0.0950 resistance in the near term. Any more gains could set the pace for a larger increase towards the $0.1050 level.

Tron (TRX) Price

The chart indicates that TRX price is now trading below $0.0900 and near the 55 simple moving average (4-hours). Overall, the price could start a major increase if there is a clear break above the $0.0950 resistance.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bullish zone.

4 hours RSI – The RSI for TRX/USD is just below the 50 level.

Key Support Levels – $0.0820 and $0.0800.

Key Resistance Levels – $0.0900, $0.0950 and $0.1000.

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