TRX/USD Long-term Trend: Bullish

Key resistance levels: $0.026, $0.030

Key support levels: $0.020, $0.015

Reaching a $0.034 high in early January, TRX has remained in a slope, testing the long-term 200-day moving average line last week before bouncing up. Now, TRX is trading above the line at around the $0.025 price level. Following a bearish sentiment, a reversal is more likely to play out any moment from now.

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Otherwise, a significant break down could drop the price below the yellow line, touching the $0.020 support level and below. A look at the daily MACD reveals that TRX is trading in the negative zone. As mentioned earlier, an upward movement is likely to push the price to the price $0.026 and $0.03 resistance area.

With the current market conditions, there is a need for high trading volume to induce some volatility in the TRX market. As of now, the 200-day MA remains a strong line for the bears to surpass as the bulls are targeting a reversal.

TRX/USD Medium-term Trend: Bearish

Looking at the medium-term chart, Tron has been following a bearish trend after witnessing a massive fall in early February, crossing the 200 moving average line (yellow). TRX has since been on a low move, approaching $0.020 and $0.021 support levels. The 4-hour MACD is currently revealed at the zero level.

Following the market structure, a bullish move is likely to hit resistance at $0.024, where the yellow line lies. A cross up on this line is likely to swing TRX to $0.025 and above. By then, the 4-hour MACD would significantly trend above the zero level. Additionally, the token has been experiencing low trading volume for a prolonged period.

However, TRX would continue a bearish sentiment until a strong buy trigger. The 200 MA line remains a strong supply level to break. For now, there's a need for a positive signal to confirm a potential bull-run.

TRX/USD Short-term Trend: Ranging

On a short-term outlook, Tron is following a sideways trend after dropping from a $0.0242 high as the 200 MA line (yellow) plays along, showing an indecisive market. For the past three days now, the token has been ranging between the $0.023 and $0.0234 price levels.

A significant downward move is likely to make a bottom at $0.0226 and below. At the same time, a strong bullish rally may propel price to retest previous resistance levels at $0.0238 and $0.0242.

Latest TRON news

Earlier in March, TRON and Tether announced a partnership that will involve USDT tokens being issued on the TRON blockchain as TRC-20 tokens. Tron will be joining Bitcoin and Ethereum as platforms supported by Tether. Launched in 2015, USDT is the primary stablecoin used in the cryptocurrency market, with 24-hour volume exceeding $10 billion at the time of writing.