Tron explodes in fireworks: TRX/USD up 25%

• Tron leads altcoin recovery with incredible gains touching $0.022.
• The technical picture remains positive while the bullish action is here to stay.

Tron is among the biggest double-digit gainers on the market. The bullish wave was ignited by Bitcoin (BTC), however, Tron has taken it upon itself to push the recovery further compared to the other top ten digital assets.

In the last 24 hours, Tron’s value has spiked 25% leaving a grand mark that such moves are still possible in the current market. In the same period, the trading volume has touched $1.89 billion while the market cap stands at $1.36 billion. Currently, Tron is the tenth largest crypto in the world.

The remarkable performance has seen Tron rise from a low of $0.0137 to touch $0.022. The Simple Moving Averages (SMA) that hindered movement have been converted to support levels. There was a struggle at the 61.8% Fib retracement level taken between $0.022 high to a low of $0.0137. However, the Fib level has also been turned into a support level at $0.0190.

From a technical perspective, Tron’s bullish action is not over yet. The Relative Strength Index (RSI) maintains a horizontal movement above 70 while the Moving Average Convergence Divergence (MACD) is trend higher inside the positive region.

TRX/USD 60-minutes chart