Investor positive expectations continue to mount as the weekend approaches. Tron, the native crypto asset of the TRON network has had a positive week so far, up 23.20% on a 7-day basis. At the time of writing, TRON was exchanging hands at $0.1044, gaining 4.56% in the last 24 hours. Today, September 3 is a special day for BitTorrent and TRON as both teams will jointly announce a new project deemed as the start of the next era. On Sept 1, TRON completed the integration of NFT infrastructure, Talken while also announcing a token burn of 1,387,209.70 TRX on the same day to reduce total supply. The No.69 voting request (#61 Proposal) of the TRON network passes on Sept. 3. Following, existing low-value TRC10 transactions will be effectively suppressed by the cost increasing of high-frequency TRC10 transactions, and the security and reliability of the TRON network will be further improved.
Key Levels
Resistance Levels: $0.1324, $0.1243, $0.1118
Support Levels: $0.0955, $0.0866, $0.0704
TRX/USD Daily Chart: Ranging
TRX/USD Daily Chart
The TRX/USD pair is edging higher again after the rebound off the $0.08 mark on Aug. 31, marking the fourth consecutive day in the green. The pair spiked to a near three-month high at $0.108 on Friday and is approaching $0.125, which is acting as a barrier since May. The momentum indicators are confirming the recent bullish movement, with the RSI jumping above the neutral threshold of 50.
Bulls keep in focus targets at $0.131 and $0.149 levels. Overstepping these barriers, the bulls may encounter a resistance border from the $0.174 up until the $0.176 yearly high. On the downside, the MA 200 offers immediate support at $0.081, while stronger dips are expected to find ground above key supports at $0.0752 and $0.048 (MA 50 and trendline support).
TRX/USD 4-Hour Chart: Ranging
TRX/USD 4-Hour Chart
Tron rebounded on the $0.087 off the MA 50 on Sept. 1 and sent the price slightly above the $0.10 psychological mark on September 3, surpassing the moving averages. If the price successfully climbs above the $0.1061 high, it may find immediate resistance at $0.131 and $0.149 levels. Above these levels, it could hit the $0.174 barrier before a stronger rally towards the yearly high at $0.176.
On the opposite side, if traders sell the pair and the market dips below the current levels, it could see a flirt with the MA 50 at $0.089 ahead of the $0.081 mark. More losses could find support at the MA 200 coinciding at $0.082. To summarize, a step beyond the $0.1045 current level could open the way for new positive adventures, confirming the bullish picture in a shorter timeframe.
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