TRON’s price analysis: TRX/USD beats the market with 5% of gains

• TRX is the best-performing altcoin out of top-20.
• The critical resistance is created by $0.04 level that stopped the recovery on June 2.

TRON (TRX), the 11th largest digital asset with the current market capitalization of $2.3 billion, has become an uncontested growth leader of the day. TRX has gained over 5% in recent 24 hours defying the general bearish sentiments on the cryptocurrency market. At the time of writing, TRX/USD is changing hands at $0.0349. TRX has an average daily trading volume of $1.3 billion.  It is most actively traded against BTC and USDT.

Fundamentally, the coin has received a boost from the news that TRON Foundation’s CEO Justin Sun won a lunch with Warren Buffet, the guru of the financial markets and an outspoken critic of cryptocurrencies. He is going to use this chance to promote the crypto case with Buffet. Read the whole story here.
https://www.fxstreet.com/cryptocurrencies/news/trons-justin-sun-to-have-lunch-with-warren-buffet-201906040349

Looking technically, TRX/USD is supported by psychological $0.03 with SMA100 4-hour (Simple Moving Average) located on the approach to this barrier. A sustainable move below this handle will open up the way towards the next bearish aim of $0.0286 (SMA200, 4-hour), closely followed by $0.0275 (SMA50, daily).

On the upside, we will need to see a move above $0.0360 (Tuesday’s high) to bring the recovery back on track. Once it is cleared, the upside is likely to gain traction with the next focus on $0.04. This area was rejected at an initial breakthrough attempt on June 2.

TRX/USD, 1-hour chart