Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/tron-investors-drive-trx-price-increase" data-wpel-link="internal">Tron Investors Drive TRX Price Increase</a><br></p>
<p style="text-align: justify">The flagship cryptocurrency, Bitcoin (BTC), has experienced gains over the past two days, positively impacting the broader market and altcoins. Tron (<a href="https://en.bitcoinhaber.net/trons-price-surge-in-crypto-markets" data-wpel-link="internal">TRX</a>) is one such altcoin, showing significant gains over the last week.</p> 
<h2 id="how-are-bulls-influencing-tron">How Are Bulls Influencing TRON?</h2> 
<p style="text-align: justify">TRX bulls have been actively working to prevent the price from falling below the $0.11 support level since its drop from $0.12 in May. According to cryptocurrency analytics firm Santiment, Tron’s social dominance—a key metric that measures the share of discussions about a token in crypto media—is trending positively. This metric’s increase generally signals upward momentum for the altcoin.</p> 
<p style="text-align: justify">As social dominance rises, demand for TRX appears to be growing, reflected in its price increase. However, it’s crucial to assess TRX’s price potential through <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">technical analysis</a>. The daily chart reveals that TRX faced selling pressure from mid-May to May 28, with its price declining from $0.13 to $0.11. Despite bears’ efforts to push the price lower, bulls’ resilience and reduced selling activity might neutralize these attempts.</p> 
<h2 id="what-is-the-resistance-level-in-trx">What Is the Resistance Level in TRX?</h2> 
<p style="text-align: justify">Since May 28, TRX has started an upward trend, forming an ascending channel until June 11. The trend line suggests support with a higher low point, while the upper trend line indicates resistance with a higher peak. The MACD, a technical indicator for assessing momentum, shows positive values, suggesting an upward trend. Conversely, negative values would indicate a downward trend.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<p style="text-align: justify">For investors looking to capitalize on TRX’s current trend, consider the following points:</p> 
<ul> 
 <li>Monitor TRX’s social dominance as an indicator of market sentiment.</li> 
 <li>Pay attention to the support and resistance levels identified in the ascending channel.</li> 
 <li>Utilize the MACD indicator to gauge the momentum of TRX’s price movement.</li> 
</ul> 
<p style="text-align: justify">These insights can help investors make informed decisions regarding TRX trades.</p> 
<p style="text-align: justify">In conclusion, TRX appears to be on an upward trajectory, bolstered by strong support from bulls and a favorable technical outlook. Investors should keep an eye on key metrics and resistance levels to navigate the market effectively.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/tron-investors-drive-trx-price-increase" data-wpel-link="internal">Tron Investors Drive TRX Price Increase</a></h5>

Tron Investors Drive TRX Price Increase

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