Can TRON Price Hit $0.20 Soon?

The Impact on BitTorrent

TRX price has seen an upward trend in the last 24 hours, rising by 2.16% to $0.1637. After experiencing a slight dip earlier in the day to $0.1591, the cryptocurrency showed a strong recovery. The market has shown resilience, with a peak of $0.1638 recorded during the same time frame.

If TRON price prediction surpasses the $0.18 resistance, it could next target the psychological $0.20 level. However, if the bullish momentum weakens, the price could consolidate back to the $0.15 range or lower. On the downside, the key support levels remain at $0.15 and $0.12.

The MACD indicator on the daily chart reveals a potential bullish crossover. The MACD line has surpassed the signal line, a common indication of growing upward momentum. The histogram also moves into positive territory, supporting the view of bullish strength.

TRON indicates a significant surge in trading activities. TRX volume has risen, highlighting the increasing interest and activity in the market. Open interest in TRX derivatives has also seen a notable rise. These volume and open interest increases suggest heightened market confidence and active participation.

The TRON’s token burn and positive technical indicators suggest the potential for further growth. However, the market remains volatile, and traders should watch key support and resistance levels closely.

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