Tron (TRX) is exhibiting robust bullish momentum following a notable rebound at a key support level. This recent shift suggests that the $0.1443 target is now within reach. As optimism surrounding Tron’s price continues to blossom, traders are closely monitoring whether it can sustain its current momentum and achieve the $0.1443 level.
Currently, Tron is trading at approximately $0.1321, reflecting a 1% increase. Its market capitalization stands at over $11 billion, with a trading volume exceeding $328 million at the time of writing. In the past 24 hours, the asset’s market cap has grown by 0.99%, despite a decrease in trading volume by 18.23%.
Analyzing the 4-hour chart, TRX’s price is in a bullish phase, trading above the 100-day Simple Moving Average (SMA) as it targets the $0.1443 mark. Since its rebound from the significant $0.1259 support, the asset has been on an upward trend, indicating rising bullish momentum and potential for further price increases.
Additionally, the 4-hour Relative Strength Index (RSI) reveals that the indicator’s signal line has surpassed 70%, entering an overbought zone. This position indicates sustained buying pressure and heightens the probability that bull traders could push the price toward the $0.1443 target.
On the 1-day chart, Tron continues to exhibit bullish resilience following its successful rebound at the $0.1259 level, maintaining its position above the 100-day SMA. The digital asset has printed multiple bullish candlesticks targeting the $0.1443 mark, suggesting optimistic sentiment within the cryptocurrency market.
The 1-day RSI indicator has also crossed above the 50% line, nearing the 60% level. This crossover signifies growing buying momentum and implies that Tron’s price may persist in its upward rally, potentially advancing substantially toward the $0.1443 target.
However, the $0.1443 resistance level remains a significant barrier. Should Tron reach this level and successfully break above it, a further bullish move toward the next resistance at $0.1804 and potentially beyond could be anticipated. Conversely, if bearish pressure prevails and Tron’s price fails to surpass the $0.1443 mark, the cryptocurrency might retreat towards the $0.1259 support level. A breach below this support could lead to further declines, possibly testing the $0.1102 level.
 shows strong bullish momentum, eyeing the $0.1443 target. Trading at $0.1321, will TRX sustain its upward trend?){kind=link}