The post TRON PRICE ANALYSIS & PREDICTION (July 25) – TRX Resumes Buying After Short Retracement, Bigger Surge Ahead appeared on BitcoinEthereumNews.com.

Tron is showing signs of strength again after undergoing a short retracement. While most altcoins are seriously down today, it is trading in the top gainers spot following a 2% increase in the last 24 hours. After almost reclaiming this year’s high, TRX saw a rejection at $0.143 and entered a small retracement mode throughout last week. Fortunately, it found support above $0.131 this week and slowly resumed buying. Now that the asset is slowly rising on a daily scale, we can expect a big breakout to a new yearly high in the next few days. Before then, it must retake this week’s high before considering a breakout. Failure to retake this high could lead to more retracement below the weekly low before resuming buying at full speed. The volume inflow may appear low on the daily timeframe, but the price looks strong at the time of writing. Nevertheless, it is important to note that the TRX is still following a bullish sentiment from a long-term perspective. There are no signs of bears in the market at the moment.  Even though they find their way back, the price must drop below the $0.1 level before we can consider a bearish shift in market structure. As it stands now, the bulls are still gaining dominance. Tron’s Key Level to Watch Source: Tradingview There are several levels on the way up but the main resistance to watch for a breakup is the $0.144 level – February high. The next test level above this resistance would be $0.155 and $0.17 in no time. If the price retraced below the weekly low, the immediate level to consider for drops would be the $0.127 support. Below this support lies $0.12, followed by May’s $0.11 low.  Key Resistance Levels: $0.144, $0.155, $0.17. Key Support Levels: $0.127,…

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Filed under: News - @ July 25, 2024 10:24 pm