- Tron price has found strong support trendline on the 4 hour chart.
- The digital asset faces only one significant barrier before a possible breakout of 30%.
- TRX must not lose the key support level at $ 0.052 to avoid a significant decline.
Tron price hit a new 2021 high at $ 0.061 on February 13, and had a significant correction of 25% to $ 0.045. Since then, the digital asset has established a robust support trendline and is aiming to break out above a key resistance point.
Tron price is about to move 30%
On the 4 hour chart, the TRX bulls have established a strong support trendline since February 10th. The critical resistance level is $ 0.0537, which is the 78.6% Fibonacci level of the rally from $ 0.027 to $ 0.061.
TRX / USD 4 hour chart
The Tron Prize was rejected several times from this crucial point of resistance. A breakout above $ 0.0537 will quickly push Tron price to at least the recent high of $ 0.061 and possibly to $ 0.07, which is the Fibonacci level of 127.2%.
TRX / USD 4 hour chart
Conversely, if the bulls fail to hold the major support trendline, the Tron price can quickly fall towards the Fibonacci level of 61.8% at $ 0.047 and the 50% level at $ 0.0437. TRX could fall to $ 0.039 at a Fib level of 38.2%.
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