Tron Technical Analysis: TRX Jumps Towards $0.15 Resistance Barrier

Daily Tron TRX Price Analysis

Last Updated July 23rd 2021
2 Min Read
  • Tron price managed to flip $0.135 from resistance to support.
  • The RSI is on the verge of entering the overbought zone.
  • On April 8, the Tron price bounced up from the $0.11 support wall and jumped up to $0.143, over the next 6 days. During this surge, TRX was trending in an upward channel formation. But, has Tron reached its top? Let’s take a look.

    The Tron Price Chart Shows Increasing Bullish Momentum

    This Tuesday, the Tron price spiked from $0.13 to $0.143, flipping the $0.14 line from resistance to support. The MACD also shows increasing bullish momentum, which may push TRX to $0.15. However, the relative strength index (RSI) is on the verge of entering the overbought zone. So a further jump may trigger a bearish correction.

    Image: TRX/USD daily

     trx/usd daily chart 041421

    Now, when we look at the 4hour Tron price chart, the bulls fought past the green-nine candlestick, which shows that a further rise in price may be in order. Also, the relative strength index (RSI) in this timeframe is also on the verge of entering the overbought zone and may soon trigger a bearish correction.

    Image: TRX/USD 4-hour

     trx/usd 4-hour chart 041421

    Justin Sun’s NFT Fund Biggest Buyer at Huobi Night Charity Auction

    The JUST NFT Fund has successfully won the bids for five NFT pieces during a recent NFT Charity Auction, at a total price of $229,000. The fund, founded by TRON CEO Justin SUN, was the largest buyer at the auction. All proceeds from the auction will go to Huobi Charity for Huobi’s philanthropic activities.

    The NFT artworks won in this auction include “Klimt” by BCA Gallery for $50,000, “KIII” by Liang Hongwei for $48,000, “The Crow” by Gabriella Barouch for $10,000, “Huobian Dream” by Jivinci for $33,000 and “Huo-Beam!!” by Twisted Vacancy for $88,000.

    Sun said:

    I am very happy that the artworks that have been bid by the JUST NFT Fund have become more diversified. It is also a great honor to be able to contribute to charity with Huobi. The JUST NFT Fund will continue to build a bridge between the world’s top artists and the blockchain to support the growth of native NFT artists in the crypto world.

     Justin Sun’s JUST NFT Fund had previously bid and won NFT pieces by Beeple and the NFT piece “TIME The Computer in Society — April 2nd, 1965.” The latter was the first image of a computer to be featured on TIME magazine’s cover.

    Tron Price Is Expected To Reach These Levels

     The Tron price is likely going to touch $0.15 before dropping back down to the $0.14 support.

     

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