The price of TRON (TRX) has been on the rise since late June, with a current report of 0.3146 USD during the early Asian trading session today (25th). Analysts state that the price structure of TRX remains in an upward trend, with long positions targeting a price goal above 0.3300 USD.
The support level for TRX is around $0.3067, near the 100-hour moving average and the rise trend line, which remains strong. This rebound has maintained a bullish pattern, and traders are currently watching whether TRX can gain some momentum to rise again.
TRX price structure is still in a rise trend
From the 4-hour chart, TRX is still following the rising trend line since June. This trend line, combined with the 100-period Simple Moving Average (SMA), forms a strong support area.
The TRX price once dropped to that area but quickly rebounded to above 0.31 USD, which means that buyers are still active at these levels.
As long as TRX stays above the trend line and the 100-hour moving average, the rising trend structure remains intact. Traders need to closely monitor whether this support level is still valid.
(Source: Trading View)
TRX’s support and resistance are worth paying attention to
The most important area currently is between 0.3067 and 0.3100 USD. This is the convergence point of trend lines and moving averages, where TRX has reacted positively multiple times. If it breaks below this area, the next level to watch will be around 0.2900 USD.
On the other hand, TRX faces some resistance around the 0.3200 to 0.3250 dollar range, which has been blocked multiple times. If this resistance level is thoroughly broken, the TRX price may fall back to 0.33 dollars, or even higher.
TRX market outlook
It is now a wait-and-see stage. If the TRX price continues to hold the 0.31 USD range and accumulates momentum, it may continue to rise.
However, if it breaks below that support level, the trend may change. Currently, TRX is still bullish, but the next few candlesticks may reveal more information.
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