Tron (TRX) Sees Only Minute Gains But Seems in Good Shape

While the Tron token hit the market in 2018 at a price of $0.006000, it could be said that the token has come a long way considering its current price. The token reached its highest value in 2021, when a TRX coin was sold for $0.1600. Currently, this token trades around the $0.1300 mark. This is a price not too far from its highest in the last bull market.

Tron Protocol Statistics:
Current TRX Value: $0.1294
Tron Market Cap: $11,198,069,316
TRX Circulating Supply: 87,179,659,665
Tron Total Supply: 87,179,691,865
TRX CoinMarketCap Rank: 11

Key Price Levels:
Resistance: $0.1300, $0.1500, and $0.1700
Support: $0.1200, $0.1000, and $0.0800

TRX Price Movement Engages Headwinds

Today’s trading activity in the Tron market has been experiencing a strong contraction. The last price candle appears like a doji candle as it tested the $0.1300 price mark. Technically, this suggests that the $0.1300 mark presents strong resistance at the moment.

Currently, the market trades significantly above the Exponential Moving Average (EMA) curve. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines have reached the 100 level but have delivered a renewed upside crossover. Technically, this suggests that traders may still want to use bullish crypto signals in this market.

Tron Is Recovering From Minimal Downward Deflection

While the daily TRX price chart reveals that market forces are locking horns in today’s session, the Tron 4-hour market clearly shows how price movement has developed. Trading activity continues above the EMA lines, with only a mild deflection after hitting the resistance at the $0.1300 price level.

However, the ongoing session indicates that tailwinds are already driving the market towards the mentioned resistance for a re-visit in an attempt to continue through it. Simultaneously, the leading line is deflected, suggesting that a bullish crossover may be on the way. Consequently, traders may still aim at $0.1350 as a nearby target.

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