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TRON Price Analysis: TRX just prints outs of the triangle pattern

  • TRON trades over 8% higher as crypto sentiment bounces.
  • After the price fell this weekend TRX/USD pushes above the key moving averages.

TRX/USD 1-hour chart

Today the price has moved outside the triangle pattern only to move just back in straight away. The price is has moved above the moving averages which is also a bullish sign. The next target on the upside is 0.1211 which is next wave high. There has also been a decent spike in volume on the break of the pattern. This is usually a confirmation of the pattern break to the upside. 

Elsewhere, the RSI is also in positive territory. The reading is above the overbought zone but this not mean it has to sell back in the longer term. The pattern analysis on TRON has been reliable of late so a confirmed break of this pattern could lead to a move to higher levels. If not there are support zones at 0.01065 and below that the psychological 0.01000 level.

TRON Price Analysis

 

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