As per technical analysis, Tron is one of the fastest-growing open-source blockchain projects that aims to decentralize the internet. It provides a robust platform for users to build and test innovative decentralized applications that transform the web in the long run. High throughput, scalability, and availability are the prime strengths of this ecosystem. TRX is the native token of this network. Past Performance On April 7, 2021, TRX started trading at $0.124. As of April 13, 2021, TRX closed at $0.141. Thus, in the past week, the TRX price has surged by approximately 14%. In the past 24 hours, TRX has traded between $0.141-$0.155. https://ift.tt/2OKPrEm Day-Ahead and Tomorrow Currently, TRX is trading at $0.151. The price has risen from the opening price of $0.141. Thus, the market seems healthy. The MACD and signal lines are negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish and hence, we can expect a price pullback. The OBV indicator is upward sloping. Thus, buying volumes have surpassed selling volumes in the TRX market. Hence, the TRX price is poised to go up further. The RSI indicator is currently at 48%. It faced a bullish swing rejection at 31%. Thus, buying pressures are steadily increasing. Hence, we can expect the TRX price to rise further. TRX Technical Analysis As per technical analysis, the price has surpassed the first Fibonacci pivot resistance level of $0.151. As the oscillators have shown bullish signals, we can expect the price to surpass the subsequent resistance levels of $0.154 and $0.160 in a few hours. The price has broken out of the 23.6% FIB retracement level of $0.152. Thus, the bullish trend seems very strong at present. If by day end, the price surpassed the 23.6% FIB extension level of $0.159, then we can expect the positive trend to continue tomorrow as well.
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