Tron (TRX) Resumes Bullish Impulsive, Technically Back in an Upward Range

Today, most altcoins across the crypto market appear calmer after charting a significant gain in the past few days. Mid-cap token like Tron is waxing

Most altcoins across the crypto market are charting a significant gain. Mid-cap token Tron (TRX) is showing strength with no signs of slowing down.

After crossing into the second half of July on a positive note, TRX went through a الكبير reduction. Closing the month bearishly, it continued posting losses until the price reached $0.117.

Considering that selling period as a major retracement phase, the price bounced off this price level after a strong re-accumulation and resumed bullish impulsive at full speed.

As you can see on the chart below, the price looks very strong as it continues gaining tractions daily. The latest surge in volatility is almost reaching the $0.131 level, where the price broke in the last leg down.

A clear push above this price level should facilitate a bigger surge. If a rejection occurs, we can expect a slight drop from there before resuming bullish. But with the look of things, the bulls should scale through it.

Looking at the bigger picture, TRX is technically back in an upward range, maintaining a higher high and higher low pattern. The price is expected to break to a new multi-month high in the next couple of days.

TRX’s Key Levels to Watch

On the way up, the key resistance area to watch for a breakup is the $0.1395 – $0.142 level that formed a double-top last month, followed by $0.144. A break above it should propel buying to $0.155 and $0.17.

In case of a pullback, the nearest support level for a test is $0.127. Other supports are $0.1215 and $0.117. If they fail to contain pressure, May’s low would be the next level to watch.

Key Resistance Levels: $0.1395, $0.144, $0.155

Key Support Levels: $0.127, $0.1215, $0.117

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