Tron (TRX) is showing mighty bullish momentum after a significant bounce at a key support level. This latest change in momentum suggests that the $0.1443 target is now within reach. As bullish optimism around the Tron price continues to grow, traders will be watching closely to see if the price can maintain its bullish momentum to reach the $0.1443 level.

In this article, we will analyze the current price action of Tron stock after the bounce to $0.1259, assess the significance of the $0.1443 target, and evaluate the implications for future growth.

Tron is currently trading at around $0.1321 and is up 1% with a market capitalization of over $11 billion and trading volume of over $328 million at the time of writing. Over the past 24 hours, the asset’s market capitalization is up 0.99% while trading volume is down 18.23%.

Technical Indicators: Bullish Patterns Point to $0.1443 for Tron

Currently, TRX price on the 4-hour chart is bullish, trading above the 100-day plain moving average (SMA), heading towards the $0.1443 level. Since bouncing off the key support at $0.1259, the digital asset has been on an upward trajectory, reflecting growing bullish momentum and the potential for further price gains.

Additionally, the analysis of the 4-hour Relative Strength Index (RSI) shows that the indicator’s signal line has successfully risen above 70%, which is considered an overbought zone. This position suggests sustained buying pressure and increases the probability that the bulls can push the price towards the target of $0.1443.

After successfully bouncing back at $0.1259, Tron continued to show bullish resilience on the 1-day chart, trading above the 100-day SMA. The digital asset printed multiple bullish candles, targeting the $0.1443 level, indicating a potential bullish sentiment for the cryptocurrency.

Finally, on the 1-day chart, the RSI indicator successfully crossed the 50% line, approaching the 60% level. This significant crossover indicates growing buying momentum and suggests that Tron price could continue its rally and significantly escalate towards the $0.1443 target.

Resistance Ahead: Target Significance at $0.1443

Recent trading activity shows that Tron with mighty bullish momentum could target $0.2443. If the crypto asset reaches and breaks through this level, it could lead to further bullish movement towards the next resistance level at $0.1804 and possibly other ranges beyond it.

However, if bearish pressure takes over and Tron price fails to break above the $0.1443 resistance level, the cryptocurrency could start falling towards the $0.1259 support level. If the price breaks below this support, it could potentially fall further to test the $0.1102 support level, with further declines possible if this level is broken.