The price of TRON (TRX) is now trading above the moving average lines, continuing its uptrend.
Long-term TRON price forecast: bullish
On April 26, buyers pushed the price above the moving average lines and the positive trend continued. The price of the cryptocurrency tested the 50-day SMA support twice before resuming its uptrend.
On the upside, the altcoin is set to reach a high of $0.144. However, the current rally is expected to face resistance at the $0.14 high. The bullish scenario will be nullified if the altcoin retraces and falls below the moving average lines. TRON is currently worth $0.126.
TRON indicator reading
On both charts, the price bars are above the moving average lines, indicating the likelihood of an upward move in the cryptocurrency. In addition, the altcoin has a bullish crossover after the recent price rally. The altcoin has regained its upside momentum, therefore, traders are encouraged to make bullish trades.
Technical Indicators
Key supply zones: $0.09, $0.10, $0.11
Key demand zones: $0.06, $0.05, $0.04
What is the next move for TRON?
The 4-hour chart shows TRON in an uptrend. The cryptocurrency has risen to a high of $0.127. After reaching the resistance level of $0.128, the altcoin has fallen back again. TRON will continue its rise if it pulls back and finds support above the 21-day SMA. The price is currently recovering from the previous breakout level of $0.124.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
