TRON is exchanging hands within the confines of an ascending channel. The daily MACD indicator has confirmed the short-term bullish outlook. Losses will take precedence if the channel’s middle boundary resistance remains unshaken. TRON appears to have sustained an uptrend while recovering from the losses incurred in February. The rebound has been gradual but consistent. However, the resistance at $0.07 continues to cap price movement. At the time of writing, TRX is doddering at $0.59 amid the bulls’ relentless push for gains to higher price levels. TRON uptrend intact despite lethargic market action TRON is trading slightly below the ascending channel’s middle boundary resistance. The price has remained within the confines of this pattern for more than a month. Its lower boundary support has played a key role in ensuring that bears are kept in check. In the meantime, cracking the middle boundary resistance would bolter TRX massively toward the crucial hurdle at $0.07. The ongoing uptrend, although gradual, has been validated by the Moving Average Convergence Divergence (MACD) indicator on the daily chart. The MACD line (blue) is holding above the mean line, further cementing the bulls’ presence. TRX/USD daily chart The SuperTrend indicator on the same daily chart shows that TRON is in the bulls’ hands. This technical indicator illustrates the general direction of an asset’s trend. The trend is bullish when the SuperTrend indicator is green and below the price. TRX/USD daily chart Looking at the other side of the fence The immediate resistance at the ascending channel’s middle boundary must come down for gains to $0.07 to materialize. However, TRON will be forced to retest the lower edge of the channel for support. If push comes to shove and massive sell orders are triggered, we will likely witness losses to $0.05, with support highlighted by the 50 Simple Moving Average (SMA) on the daily chart. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Silver Price Analysis: XAG/USD breaches $25 mark after Tuesday’s closing below 100-DMA FX Street 2 years TRON is exchanging hands within the confines of an ascending channel. The daily MACD indicator has confirmed the short-term bullish outlook. Losses will take precedence if the channel's middle boundary resistance remains unshaken. TRON appears to have sustained an uptrend while recovering from the losses incurred in February. The rebound has been gradual but consistent. However, the resistance at $0.07 continues to cap price movement. At the time of writing, TRX is doddering at $0.59 amid the bulls' relentless push for gains to higher price levels. TRON uptrend intact despite lethargic market action TRON is trading slightly below the ascending… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.