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TRON (TRX) on the upside is slow

mahmudul01 - 2024-02-29 22:58:12



Assalamu Alaikum





How are you everyone?Today I will discuss with you about TRON (TRX) on the upside is slow!
I am young and my experience is very little so please forgive me if there are any mistake.


![company-3244080_1280.jpg](https://cdn.steemitimages.com/DQmXmTxZn4FTutC1kePjY2K9WvGScSSrg8QcdanXnkbcy5X/company-3244080_1280.jpg)
[Source](
https://pixabay.com/photos/company-paper-hand-man-money-3244080/)
Although Tron hasn't been overly impressive in the post-crisis period, it has continued to show steady and steady growth over the past four months.  The past 30 days have been particularly fruitful for TRX since USDT gained 22.3% in the market while leveling with Bitcoin.
With DeFi currently in the limelight, TRON has recently fallen in the way of its platform for decentralized apps, with only news headlines noting that the 16th cryptocurrency is dedicated to a slightly self-absorbed Justin Sun and the personification of COVID.  19 grants.  But this should be the least of traders' worries as prices remain in the right direction, to the upside.  But the period of quiet bullish price action may be coming to an end as TRON is now facing two strong resistance levels at $0.19 - $0.2 and $0.22 - $0.23, the resolution of which could change the entire nature of this market.
TRON resistance could be up for a tough test
  First, let's analyze the weekly chart, where we have determined the most important areas of price interaction.
$0.0134 is the macro support that the price is adopting during the correction;
  $0.0195 - First of two resistance levels standing in TRON's way in secondary uptrend;
  $0.0223 – Final resistance for this cycle of price action that forms the top of a significant rally that occurred in early 2020.

![stock-market-6531146_1280.jpg](https://cdn.steemitimages.com/DQmczXHu1aZiDpuaifxrLGXqXG9CbAnWvTtP5we3fYskAXX/stock-market-6531146_1280.jpg)
[Source](https://pixabay.com/photos/stock-market-trading-stocks-6531146/)

We can see that TRX is already trading at $0.0195, and from the looks of it, that level is going to be breached in the next day or two.  Bullish trading volume has been kicking into gear over the past two days as prices neared roadblocks, a definite prerequisite for more decisive bullish action.
MACD has almost entered the bullish zone, as both its moving averages diverge behind the rising green histogram;
The RSI also looks pretty healthy on the upside that started just after the market decline.  The index is now at 60, which is a neutral area, so the bulls still have plenty of room to push to the upside.
On the other hand, ATR is close to reaching extreme lows;  Hence, one should not expect increased volatility and associated gains from TRX in the coming weeks.
Our mid-term TRX price forecast is that the altcoin will continue to move systematically higher in moderate upside until it meets $0.223 where bears will apply increased pressure to prevent a secondary uptrend.  However, it will also break on the upside, possibly after some consolidation.
Today's discussion ends here.  I hope you find it interesting and able to understand.  Share your thoughts on today's topic.  Wishes and blessings to all.

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