Finding support after rolling back under the $0.2 level this week, TRX quickly bounced back and resumed buying at full speed following a 5% surge in the last 72 hours. The bulls appeared back in the market. Last week, TRX broke out to a new all-time high but had a temporal stopover at $0.224 in the late week after posting huge gains in the past months. That led to a slight drop and the price pulled back. However, it has shown signs of strength in the last three days as the price bounced sharply off $0.186 earlier this week. That has brought some notable recovery from the weekend losses, and as seen on the daily chart, it looks prime for another swing high. A continuous price surge in volatility should facilitate more gains and growth of the token in the long term. There has been no room for major selling over the past year. If that happens with a crack below the $0.1 level, that might end the bull run as the trend could shift reverse. Of course, its long-term structure is still looking bullish on the daily chart. The latest bounce should sustain momentum until the market reaches an exhaustion point. Looking back, TRX has recovered significantly from the last bear cycle crash. It still appeared to be accumulating on the weekly scale, and with the look of things, a bigger surge in volatility could be underway as it just bounced off its previous all-time high. TRX’s Key Level to Watch Source: Tradingview The key resistance level for the next break-up is $0.225. A successful surge through this resistance should send the price to $0.25 and $0.3 soon. Amid rising demand, the price can hit $0.5 in the long term, While TRX has held the $0.186 level as support, a break below it could cause a serious reduction while entering a major retracement mode. The support levels to consider for such a drop are $0.17 and $0.16. Key Resistance Levels: $0.225, $0.25, $0.30 Key Support Levels: $0.186, $0.17, $0.16 Spot Price: $0.2 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: winst2014/ 123RF // Image Effects by Colorcinch
