- Tron is back in bullish hands after support at $ 0.02.
- TRX / USD bulls plan to capitalize on the breakout of the wedge pattern and move closer to $ 0.03.
Tron explored levels near $ 0.022 after a consistent breakdown of the top at $ 0.032. The reversal failed to find support at $ 0.028 and $ 0.026. The congestion of buyers at the 50 SMA and 200 SMA also did not help stop the losses.
After more than a week of being hit with the bears, TRX has adopted support at $ 0.02. The price has started to rebound. The formation of a falling wedge pattern kept hope that a recovery is possible in the short term. For this reason, buyers have increased their entry into the market.
Tron is trading at $ 0.024 after peaking above the wedge resistance. The uptrend seems to be gaining momentum according to the RSI and MACD. The latter is approaching the overbought region. Her recovery was significant bearing in mind that she fell below 30 on August 25.
Therefore, the MACD puts Tron in the hands of the bulls as it scales the levels in an effort to move into the positive region. This means that Tron has the potential to continue the theft towards $ 0.03. Its immediate advantage, however, is capped by the 50-day SMA followed by the 200 SMA at $ 0.0248. Other resistance areas to keep in mind include $ 0.028 and the coveted $ 0.03 level.