Tron Price Analysis: TRX/USD bulls have freedom to run higher again
05/16/2019, 04:40:21
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The Tron price well into the second half of the session on Tuesday is holding decent gains just shy of 4%, as the bulls start a recovery. TRX/USD has

  • Tron bulls are looking to stage a rebound after a minor correction period.
  • TRX/USD next major barrier to tackle is seen within the $0.03000 price territory region, a break above could provide another strong wave of buying pressure.
  • Tron bulls are looking to stage a rebound after a minor correction period.
  • Tron bulls are looking to stage a rebound after a minor correction period.
  • TRX/USD next major barrier to tackle is seen within the $0.03000 price territory region, a break above could provide another strong wave of buying pressure.
  • TRX/USD next major barrier to tackle is seen within the $0.03000 price territory region, a break above could provide another strong wave of buying pressure.

     

    The Tron price well into the second half of the session on Tuesday is holding decent gains just shy of 4%, as the bulls start a recovery. TRX/USD has been very much under pressure since the failure to maintain upside momentum, which was seen earlier in the month.

    TRX/USD price action has broken out from a descending wedge and somewhat of a bullish flag pattern, as the price retreated from the high print on 8th April, up at $0.03200. The price has caught some comfort once again in a known area of buyers.

    Technically, there is room for greater upside, as the price has bounced again within a demand zone $0.02250-0.02000 range. Eyes are on another retest of the chunky supply zone that tracks from $0.02800 up to $0.03200, the price has not traded comfortably above since July 2018.

    TRX/USD daily chart

    TRX/USD daily chartTRX/USD daily chart