• Tron (TRX) price started a fresh increase from the $0.057 level against the US Dollar.
• TRX price is now trading above $0.062 and the 55 simple moving average (4-hours).
• The pair could continue to move up if it breaks the $0.0685 resistance zone.
Tron (TRX) Price Analysis
Tron price started a fresh increase from the $0.057 level against the US Dollar as it traded above the 50% Fib retracement level of the key drop from the $0.06854 swing high to $0.05697 low.
Upside Break Above $0.0650
The pair settled above the 50% Fib retracement level of the key drop from the $0.08654 swing high to $ 0.05697 low, and TRX is now facing resistance near the $ 0. 0658 level which is near 76%. 4% Fib retracement level of key drop from swing high at 0 .08654 to low at 0 .05697.
Resistance Levels
On the upside, TRX is facing resistance near the $ 0 . 0658level which is near 76 . 4 %Fib retracement level of key drop from swing high at 0 . 08654to low at 0 . 05697; next major resistance will be seen near$ 0 . 0685.
Support Levels
An initial support can be seen near$ 0 . 0620level , with next important support expected around$ 0 . 0600; any more losses might call for a move towards$ 0 . 0550 in coming sessions.
Conclusion
Overall ,the price could continue to move up if it breaks out abovethe$ 00685resistance zone.