bullish

2024

Bitcoin

Resistance

TRON

<p>With a market cap of $15.39B, Tron remains the 10th biggest crypto market. Following a massive surge last night, the TRX prices take a quick U-turn back for a retest.&nbsp;</p>  
<p>Delaying a weekly chart breakout rally, Tron stands at a crossroads with the price action traders paying close attention. Will TRX create a new all-time high with a wedge breakout? Find out more about the latest TRX price analysis.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-tron-hits-0-1926">TRON Hits $0.1926</h2>  
<p>Following the 11% jump last night, the TRX price aimed for a rising wedge pattern breakout. However, the intraday pullback of 6.79% with the broader market pullback delays the breakout rally.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/13124054/image-209-1024x509.png" alt="TRX price chart" class="wp-image-379193">
</figure>  
<p><a href="https://www.tradingview.com/x/WcZUpm0T/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>In the weekly chart, the TRX price action shows a bullish engulfing candle, surpassing the 1.272 Fibonacci level at $0.16. The extremely bullish candle accounts for a 6.53% jump this week and is currently trading at $0.1747.&nbsp;</p>  
<p>Creating a new 52-week high at $0.1926, the massive demand for TRX price subsided due to the pullback in Bitcoin prices.&nbsp;</p>  
<p>As the market takes a step back due to the bullish exhaustion, the rising wedge pattern breakout is delayed further on. As the pullback intensifies, a potential retest of the 1.272 Fibonacci level at $0.1688 is possible.&nbsp;</p>  
<p><strong>Technical Indicators:</strong></p>  
<p><strong>SMA: </strong><strong>&nbsp;</strong>The bullish trend maintains a positive alignment in the simple moving average lines in the weekly chart.&nbsp;</p>  
<p><strong>MACD</strong>: &nbsp;The MACD and signal lines find an uptick to avoid a bearish crossover.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-will-trx-price-hit-0-2621">Will TRX Price Hit $0.2621?</h2>  
<p>The bullish trend will likely continue due to a cup-and-handle pattern breakout in the weekly chart. The neckline for the cup and handle pattern stood at $0.1434. Beyond the rising wedge pattern, a support trendline maintains a rising channel pattern for TRX in the weekly chart.&nbsp;</p>  
<p>If the altcoin manages to close above the rising trendline by the end of this week, a bullish rally for TRX is imminent. Using the retracement tool, the upside target for TRX stands at $0.2011 and $0.2621.&nbsp;</p>  
<p>Hence, the bullish trend shows an upside of 50%. Conversely, the $0.1688 is a potential retest of the 1.272 Fibonacci level.</p>  
<p>Will the bull run in Tron reach $0.50? Find out now in Coinpedia’s latest <a href="https://coinpedia.org/price-prediction/trx-tron-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">TRX price prediction </a>for 2024 to 2030.</p>  
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1731481871753"><strong class="schema-faq-question">What is the current TRX price target?</strong>
  <p class="schema-faq-answer">The TRX price targets are $0.2011 and $0.2621, based on the cup and handle pattern breakout and rising wedge breakout expectations.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1731481878754"><strong class="schema-faq-question">What are the key support and resistance levels for TRX?</strong>
  <p class="schema-faq-answer">Key support levels are $0.1688 (1.272 Fibonacci level) and $0.1434 (cup and handle neckline). Resistance stands at $0.1926 and above.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1731481879479"><strong class="schema-faq-question">Is TRX showing bullish signs despite the pullback?</strong>
  <p class="schema-faq-answer">Yes, TRX maintains bullish momentum with a positive SMA alignment, an uptick in MACD and signal lines, and confirmation of key bullish patterns.</p>
 </div>
</div>

As TRX Price Hits 52-Week High, Weekly Bull Run Targets $0.2621

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