TRON (TRX) price has regained momentum and broken through the $0.144 resistance level.
On February 26, the cryptocurrency price peaked at $0.144. In recent months, buyers have failed to sustain the upward momentum above the $0.144 barrier. The $0.144 barrier has forced the altcoin to trade in a range.
TRX Long Term Price Forecast: Bullish
On August 19, the above resistance was broken and TRON started to move up. TRON price signal indicates further upward movement.
TRON’s price signal showed further upward movement. During the rally on July 8, the candle’s pullback body approached the 50% Fibonacci retracement line. The retracement suggests that the price will continue to rise until it reaches the Fibonacci extension high of $2.0 or $0.186. At the time of writing, the altcoin is worth $0.159.
TRON indicator readings
On August 14, the daily chart price bars returned above the moving average lines. The horizontal moving average lines are sloping upward, indicating an uptrend.
Technical indicators
Key supply zones: $0.13, $0.14, $0.15
Key demand zones: $0.10, $0.09, $0.08
What are TRON’s next steps?
TRON’s sideways trend has been broken and the bulls have broken the overhead resistance at $0.144. Since July 13, the altcoin has been trading in the range of $0.11 to $0.14. Today, the bulls have broken the price range and continued the cryptocurrency’s upward trend. On the other hand, TRON is predicted to reach highs of $0.18 to $0.20.
Disclaimer: This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should do their own research before investing in funds.
