Can Tron Rally In 2020 Amid Bitcoin (BTC) Halving?

TRX/USD has been an interesting pair to follow in the crypto news and many analysts have been dong this for the past couple of weeks. Aside from the news that Ledger and Tron partnered recently, the big question that everyone is asking is – can Tron rally in 2020 and TRX achieve new heights in the weeks and months to come?

The price of TRX has made substantial progress from its dive in March where it hit the lows of $0.0070. At the moment, the TRX/USD pair is trading near the $0.0132 levels and has embraced support above $0.0120, gearing up for a positive movement at the Bollinger Band daily middle curve.

On the other hand, the Tron news show that the grandfather of all coins, Bitcoin (BTC), is now trading above $7,200 which is very positive for the dominant coin. BTC is in the green with intraday gains of more than 1%, which is why people are wondering and asking – can Tron rally in the next period with a similar movement on the upside?

For Bitcoin, this new retreat comes only weeks before the halving, which is scheduled to take place in May. Despite the fact that the dominant coin is lagging its historical pre-halving rally, some experts and crypto enthusiasts believe that a post-halving rally is still on the table. Like other altcoins, Tron is still correlated to Bitcoin – therefore, if BTC rallies towards $10,000 soon we can also expect significant bullish action with TRX/USD, which has a main target of $0.025 in the news.

Technical details indicate that the daily RSI clearly shows that ongoing sideways trading will take center stage. TRX/USD spike above $0.0140 will depend on the ability of the BB daily middle curve support to hold, blocking all selling activities that threaten to retest the support at $0.0100. The ongoing consolidation coupled with correlation to the BTC price is how can Tron rally in the future and match the gains of Bitcoin.

If this happens, we are likely going to see the entire market going for a run. For now, the best performing coins on the day include Ethereum (ETH) which rose by 6.16% as well as Bitcoin Cash (BCH) which finally arrived above $200.