TRX Adds 12% Amid Market Struggle: TRON Price Analysis

TRX adds 12% in the past day while the entire crypto market is seeing serious struggle with the top 20 coins declining. TRON managed to remain in the positive by a total of 5%, Bitcoin it traded higher since the weekend after it rebounded from the 288 SAT so let’s get into the price analysis some more in our TRON TRX news.

TRX was pushing higher towards the end of August and managed to surge close to the $0.5 level in September. It was unable to close the daily candle above the $0.04 level and started to go lower. During bitcoin’s price drop, TRX spiked as low as $0.28 as the bulls managed to recover and to put an end to the daily candle above the $0.3 support. The buyers have since allowed TRX to rebound as it hit the $0.035 level today.

If the bulls continue beyond the $0.035 level, the first one that has to be surpassed of strong resistance lies at $0.04. This is followed by the resistance at $0.0408 and the $0.436 while the added resistance lies at $0.05. On the other side, the support is set at $0.032 and $0.028. Beneath this, the added support can be found at $0.0251 and $0.024. TRX added 12% while the rest of the market is struggling as it entered into the 400 SAT resistance. From there, it headed lower but managed to find support at the 288 SAT. The coin bounced higher as it broke above the 300 SAT to reach the high level of 340 SAT.

Once the bulls break the 340 SAT, the resistance lies at 370 SAT, 411 SAT, 431 SAT. This is followed by added resistance at the 450 SAT. On the other side, the support is set at the 300 SAT level which is followed by support at 288 SAT and 250 SAT. The bulls remain in control of the market momentum as the RSI bounced from the mid-line.

As per the recent TRON  news, we reported that Tron gets into DeFi as Justin Sun, the founder of the cryptocurrency shared his idea a year ago. The pivot into decentralized finance which has taken the crypto industry by storm in the past few months started with the launch of JustSwap , the decentralized exchange that utilizes the automated market maker concept which got extremely popular thanks to Uniswap.