After experiencing a significant pullback during the last week of August, the Tron price has regained momentum and is currently trading at a discount of ~5%. This hints at a high possibility of achieving a new yearly high soon.

TRX Price Situation

The Tron price has recorded a neutral trend over the past seven days with a change of +0.33%. With a 24-hour trading volume of $274.91 million, it is currently valued at $0.1599. Notably, it has jumped ~50% this year, indicating its rising adoption in the market.

Technical Analysis: Will Tron Price Rise?

The MACD indicator shows a constant decline in the green histogram. A potential bearish convergence suggests negative price action for Tron this month. Additionally, the SMA indicator in the 1D time frame has experienced a negative crossover, indicating potential value loss for the altcoin.

Tron Price Movement Forecast

If the altcoin successfully retests its support trendline of the triangle pattern, the TRX coin price could retest its resistance level of $0.1635. Furthermore, if bulls dominate the market, it could rise to test its upper resistance level of $0.1760 this month. Conversely, if bears gain dominance, Tron could break down its support trendline and drop toward $0.15, and if bearish sentiment intensifies, it could plunge further to its lower support zone of $0.1450.

The future movement of Tron price hinges on market conditions and prevailing sentiments. Keen observation of technical indicators will be crucial for assessing potential price changes.