TRON Price Prediction: Jumps 15% In A Single Day; Is $0.085 Next In Offer?
TRON price edges higher following the previous sessions of consolidation. The price opened lower but quickly retraced back to the day’s high which is also the weekly high. Investors expect more gains on a daily close above $0.071.
- TRON price prints impressive gains on Thursday with more than 15% gains.
- A strong green candlestick indicates more gains if the price pierced the 200-EMA.
- The momentum oscillator tilt in the favour of bulls.
TRON price seeks more gains
On the daily chart, the TRON price has been trading in a short-term trading range of $0.057 and $0.071 since January 7. The price continues to slide inside the boundaries with a few deviations on January 24 and March 31 respectively. TRON’s price dropped nearly 70% from the swing highs of $0.12 made on November 15 to the swing lows of $0.05.
Currently, the TRON buyers attempt to break above the range but face some pressure near the upper boundary of the range that is placed near $0.071. A sustained buying pressure would push the price to test the critical 200-day exponential moving average (EMA) at $0.078 another upside filter for the bulls to cross.
If the price successfully holds above the mentioned level then a psychological $0.08 would be the next target for the TRON price.
On the flip side, a daily candlestick below $0.060 would invalidate the bullish hypothesis for the asset. In that case, the first downside target could be located at the lower boundary of the predefined range at $0.057.
As of writing, TRON/USD trades at $.0.071, up 13.85% for the day.
Technical indicators:
MACD: The moving average convergence divergence crossed above the midline with a strong bullish bias.
Stochastic Oscillator: The bounded oscillator hovers near the overbought zone but is still off from the overheating condition.
- Breaking: 21Shares Amends Sui ETF with Staking, Nasdaq Listing, Other Key Details
- Binance’s Changpeng Zhao Takes on Senator Elizabeth Warren On False “Fraud” Allegations
- Trump Tariffs: Crypto Market Volatility Looms As US President Terminates Trade Talks With Canada
- Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown
- Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces
- Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
- Solana Price Prediction as Osprey’s S-1 Filing and Hong Kong’s ETF Launch Fuel Reversal Hopes- Is $250 Next?
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Prediction as Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
