After a brief push, Bitcoin and other top crypto tokens were back in red on Wednesday. Lingering concerns over the US debt ceiling is adding to the angst of traders across the globe, who are seesawing between bullish and bearish sentiments in the digital asset market.
Tron (TRX) has witnessed a massive rally in the last week and continues to gain momentum. The asset has breached the ceiling of the rising channel ($0.076 level), which signals an inherent bullishness.
The candle sticks have inched closer to the $0.080 level in the last two days which acts as the nearest resistance level. If the momentum continues, additional gains could potentially drive the price towards the $0.085 levels. The positive development, however, may lead to short term corrections from today’s level and may reach support levels at $0.072 followed by $0.067. The RSI level currently sits at 76.5 indicating a strong optimism for Tron.
Major Levels:
Support: $0.072, $0.067
Resistance: $0.080, $0.085(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
