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  • TRON has lost ground after a strong upside movement on Sunday.
  • TRX/USD  needs to recover above $0.0150.

At the time of writing, TRX/USD is changing hands at $0.0148. The coin has reversed the gains of the previous day, losing about 2.5% of its value in the recent 24 hours amid range-bound trading with bullish bias. The coin hit the bottom at $0.0117 on September 24 and has been growing slowly ever since.

TRX/USD, the technical picture

Looking technically, TRX/USD is moving along the rising trendline from the above-mentioned low. It stopped the sell-off on Sunday and served as a jumping-off ground for recovery; however, thee upside momentum faded away by the time of writing. Currently, the trendline creates strong support on approach to $0.0144. It is strengthened by a combination of SMA50 (Simple Moving Average) and the middle line of four-hour Bollinger Band Once it is out of the way, the downside momentum is likely to gain traction with the next focus on  $0.0140.

On the upside, a strong move above  $0.0150 is needed to improve the short-term technical picture. Once it happens the coin may proceed towards the next barrier, created at $0.0152 with SMA50 and the upper line of four-hour Bollinger Band located on approach. The next resistance awaits us at  $0.0157 (SMA50 daily) and psychological $0.0160.

TRX/USD, the four-hour chart