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Tron price analysis: TRX rallies above $0.104 after piercing through resistance

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  • The bullish trend has lifted price to $0.104.
  • Bulls have been maintaining the control.
  • Support is at $0.082 as per Tron price analysis.

The Tron price analysis shows the bullish momentum has been intensifying over the past few days, and the uptrend has been quite permanent. The TRX/USD price has been able to cross the resistance present at $0.103 as well because of the upsurge. A crossover between SMA 20 and SMA 50 has resulted in a massive-scale improvement in price. The price is currently at $0.104 and is expected to grow even further.

TRX/USD 1-day price chart: Bullish momentum succeeds in elevating price to $0.104 level

The one-day Tron price analysis is confirming an uptrend, as the price has been rising consistently since the past week. The progression has been quite noteworthy as the price has been able to break past the resistance level as well. The price has taken a momentary stop at $0.104 and is expected that it will jump to further heights soon. The moving average (MA) value is at a lower level and is standing at $0.096.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 1

The volatility has increased slightly which indicates that the price might experience a drop ahead. The upper and lower values of the Bollinger bands Indicator have changed as such; the upper value is now at $0.103 while the lower one is at $0.082. The Relative Strength Index (RSI) indicator is showing its score at 60.

Tron price analysis: Bullish trend accelerates price movement above $0.104

The four hours Tron price analysis is predicting an uptrend for the cryptocurrency as the price has been progressing rapidly. TRON’s price is now settled at $0.104 and there is a high chance that it will move forward in the approaching hours. The improvement in coin value has been surprising and it seems that the buyers are inclined towards keeping the price high. Moreover, if we discuss the moving average value, then it is currently standing at $0.099.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 2
TRX/USD 4-hours price chart. Source: TradingView

As the volatility has increased substantially, the Bollinger bands are now keeping their average at $0.097. Whereas, the upper and lower Bollinger band values have moved to the following levels; the upper value to $0.102 and the lower one to $0.091. The RSI score has crossed the over-bought mark to reach 74.5 as well.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 3
TRX/USD technical indicators chart. Source: TradingView

The overall progress of TRON/USD price has been appreciable as can be confirmed from the technical indicators chart. There is a bullish indication for the day with 16 indicators present on the buying position, 10 indicators on the neutral position, and zero indicators on the selling one.

The moving averages indicator is supporting the buyers as well with a strong bullish signal. There are 14 indicators standing on the buying point, one indicator on the neutral point with none present on the selling point. The Oscillators are showing signs of bullish trend as well while keeping nine indicators on the neutral position, two on the buying position, and zero on the selling one.

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Tron price analysis conclusion

The above one day and four hours Tron price analysis is predicting a rise in price as a constant uptrend has been following for a week. The price has pervaded through the resistance levels as well and has joined the $0.104 position. Further increase in price is possible if the support at $0.082 remains steady at its position.

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Justin Sun of TRON (TRX) bought 100 Coins at An Average USD price of 47,627.03 Bitcoin

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Justin Sun is optimistic that active and new accounts hit new ATH today. TRON network is very stable in the extreme market condition and attracting more users every day.

Also stated, To match the CEO of El Salvador Nayib Bukelee’s offer, I just bought the dip – 100 coins at an average USD price of 47,627.03 Bitcoin.

Tron community member was like:  What about your own coin tron trx? How about buying that? That’s down too. Try to do something about that, that hasn’t done anything for a long time. All the hype but never any movement in it.

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Otherwise activities in the TRON foundation are progressing.

Tron Foundation expressed:  Dear TRONICS, Our API function update has been completed. Our data on Coin Market Cap and other platforms have been updated and synchronised in real-time.

The circulating supply seems to increase suddenly on Coin Market Cap due to the update delay rather than caused by sudden transactions.

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Coin Market Cap is one of the top crypto tracker websites globally, and we will cooperate more closely to ensure to provide all TRONICS with more timely and accurate data information.

Community Response:  Still a TRONIC, but very disappointed. I can’t believe more people are not. This has cut the gains possibilities to a fraction. TRON usually makes things right so I’m looking forward to that, but one foots out the door.

It looks correct Chris I never relied on CMC always monitored Tron Scan data supply circulation and it is correct. CMC had old data.

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So now max supply is unknown? We have an additional 30 billion circulating no warning nothing.

How do you say this? And what is the interpretation of 40% + market for TRX?

Otherwise, The TRX and NFT Holders Airdrop event has been extended to 6th Dec.  Thus, it is never too late to join.

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Right after the TRX and NFT Holders Airdrop event was launched, more and more attention were drawn. But many users were too late to join or felt hard to figure out our rules. So, we decide to extend the end of the event to 6th Dec, 2021.

Community was like, what is the fun of having NFT if it’s value is near to zero?

TRON SCAN stated, the average daily transfer volume of stable coins on TRON network reached $9,677,999,233 (11.26-12.02) this week.  Relying on the strong alliance of 4 TRON -based stable coins USDT, USDJ, TUSD and USDC.  TRON’s ecosystem is continuously increasing.

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Tron Builds First-Ever Ecological Complex in Cryptovoxels Metaverse

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An ecosystem of three buildings and a temple has been built in Cryptovoxels metaverse.

In collaboration with MetaEstate, a leading digital real estate platform, Tron Foundation develops an ecological complex that includes the foundation’s headquarters, digital art museum and convention club.

Tron raises bets on metaverses, builds ecological complex in Cryptovoxels

According to the official announcement shared by the Tron Foundation, it released the first-ever ecological complex in the digital metaverse of Cryptovoxels.

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As such, TRON becomes the third company after SuperRare and SpaceX to announce the creation of its complex in the metaverse. The TRON complex refers to three adjacent buildings that are located on the east coast of Miami. It includes Tron Headquarters, the BT Convention Club and APENFT Digital Art Museum.

Also, the complex includes the SUN temple situated on the opposite side of the coastal landscape. TRON headquarters acts as both a conceptual art museum and displays hard capabilities together with a soft artistic comprehensive output.

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Tron Headquarters (TRON ECO HQ) has three floors, including an atrium with an eco-brand display of the Tron Network, a public office area with meeting rooms, and independent offices with large outdoor terraces.

APENFT art museum is a pioneering digital art exhibition in the metaverse

BT Convention club has two levels. The first one has a reception area and large conference hall. On the second floor is a large open office and theatre-like display space for meetings and conferences.

APENFT art museum is the first-ever cultural institution that exists in the metaverse only. It is dedicated to digital art and non-fungible tokens as its technical basis.

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APENFT demonstrates the artwork of prominent digital artists alongside the paintings of winners of the “Second Life” public contest.

The museum also has two floors: the first floor is a reception area accompanied by an open concert hall and artwork display area. The displays on the first floor are adjustable: they can be customized according to different needs.

Also, the second floor has a painting atrium as a symbol of Tron’s ability to onboard new-gen digital artists and their paintings. The second floor also has indoor and outdoor exhibition halls for early-stage artists.

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APENFT is among the largest and most influential players on the NFTs market. Associated with Tron Foundation, it performed an unmatched token burn event in July.

Its investing strategy is curated by digital art veteran Barrett Wissman, who joined APENFT as Chief Investment Advisor.

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TRON price kick-starts 20% rally as TRX shatters vital trend line

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  • TRON price breached through a declining trend line on November 29, signaling the start of a new uptrend.
  • A minor downswing to $0.09 is likely before TRX rallies to $0.109. 
  • A daily close below the $0.082 to $0.087 demand zone will invalidate the bullish thesis.

TRON price experienced a two-week downswing that ended recently with an uptick in buying pressure. This move suggests that TRX has kick-started an uptrend and is likely to continue higher.

TRON price looks to set up higher highs

TRON price has corrected 30% over the past two weeks and set a swing low at $0.089. Connecting the swing highs between November 22 and November 29 using a trend line reveals a bear trend line and a declining resistance level. A potential increase in buying pressure reversed the trend and broke this hurdle, propelling TRX by 7.7% to where it currently trades – $0.096. Going forward, investors can expect TRON to head lower and retest the $0.092 support level before firmly launching.

The immediate resistance level at $0.10 is the first hurdle TRX will encounter after a 10% upswing. Clearing this barrier will allow TRON price to retest the 50% Fibonacci retracement level at $0.109. This move will indicate a 20% upswing from the current position and is likely where the upswing will face a decisive moment.

If the buying pressure continues to increase, investors can expect TRON price to retest the 62% Fibonacci retracement level at $0.11 or the following one at $0.12.

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TRX/USDT 4-hour chart

TRX/USDT 4-hour chart

TRON price needs to stay above the $0.92 support level, a failure to do so will indicate a lack of buying pressure and push TRX down to the daily demand zone, ranging from $0.082 to $0.087.

As long as TRX stays above this area of support, buyers can make a comeback. However, a daily close below $0.082 will create a lower low and invalidate the bullish thesis.

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