The price picture on the daily chart sets up the potential for bullish TRON price predictions to come into the fray after the TRON/USDT pair ticked upwards for the second straight day. Despite giving up some of the intraday gains, the TRON/USDT pair maintained its gains to the tune of 4.08%, providing some hope for a recovery.
The TRON token has been on the back of a poor run of form in the last four weeks but looks forward to stemming the tide via the launch of the BitTorrent Cross Chain Mainnet BTTC).
The cross-chain mainnet project uses a Proof-of-Stake consensus mechanism to scale contracts and provide interconnectivity between the Binance Smart Chain, TRON, and Ethereum. The launch date has been set for 12 December.
The intraday uptick is testing resistance at 0.09080. A break above this level also takes out the channel’s upper boundary, targeting 0.09681 and 0.10014 in the first instance. An additional push to the north will bring 0.10601 and 0.11030 into the crosshairs of the bulls.
On the flip side, rejection at the combined resistance of the channel’s trendline and the 0.09080 resistance could initiate a pullback move, which will target 0.08320 initially as the primary target. If the decline continues, 0.07533 and 0.07018 become additional targets to the south.
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This post was last modified on Dec 07, 2021, 16:39 GMT 16:39