Tron Price Prediction for Today, May 11 – TRX Technical Analysis

On May 11, 2024

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The Tron price prediction may need to stage a meaningful short-term rally for the coin to see a rise above the $0.130 level.

Tron Founder Justin Sun Secures 2 Million Tokens in EigenLayer Airdrop

Justin Sun, the founder and CEO of Tron (TRX), has recently reaped significant rewards from the EigenLayer token airdrop. Sun acquired more than $2 million worth of EIGEN tokens during the Phase 1 airdrop organized by EigenLayer, amassing a staggering 2.08 million EIGEN tokens. Furthermore, the community eagerly anticipates the upcoming Phase 2 airdrop.

Tron Prediction Statistics Data:

Tron price now – $0.127
Tron market cap – $11 billion
Tron circulating supply – 87.4 billion
Tron total supply – 87.4 billion
Tron Coinmarketcap ranking – #13

TRX/USD Market

Key Levels:

Resistance levels: $0.145, $0.150, $0.155

Support levels: $0.105, $0.100, $0.095

Tron Price Prediction for Today, May 11 – TRX Technical Analysis — TRXUSD – Daily Chart

TRX/USD is seen moving in a narrow trading range as the con breaks above the 9-day and 21-day moving averages. The Tron price is likely to cross above the upper boundary of the channel if the buyers increase the buying pressure. However, if the coin fails to rally from current trading levels, the greater the chance that we may see the price falling to a new trading low.

Tron Price Prediction: Tron (TRX) May Head to the Upside

The Tron price may break above the upper boundary of the channel, but the longer the coin fails to rally from current trading levels, the greater the chance that traders may see the coin falling. Any bearish slide toward the lower boundary of the channel could touch the support levels of $0.105, $0.100, and $0.095. Meanwhile, the 9-day MA is hovering above the 21-day MA, suggesting a bullish movement for the market.

Nonetheless, the daily chart highlights that TRX/USD bulls may continue to re-group and energize the market by pushing the price above the upper boundary of the channel. Therefore, any further bullish movements above this barrier could locate the resistance levels of $0.145, $0.150, and $0.155.

TRX/BTC Could Break to the North

Against Bitcoin, the Tron (TRX) price is moving to cross above the channel’s upper boundary. However, the coin may continue to follow the upward movement if the buyers increase the pressure and the nearest resistance level may be found around 220 SAT.

However, as the 9-day moving average remains above the 21-day moving average, the coin creates additional resistance levels. Meanwhile, any further bullish movement could lead to a resistance level of 255 SAT and above. On the contrary, sliding below the channel’s lower boundary may touch the support level of 160 SAT and below.

However, @cryptojack provided analysis on #TRON to his vast audience of over 313k followers on X (formerly Twitter), indicating that the coin’s performance aligns with expectations. The price rebounded from the 0.382 Fibonacci level, with the next hurdle being the Golden Pocket situated at approximately $0.13. Should the price of $TRX successfully surpass the GP, it could potentially revisit its previous all-time highs (ATHs)!

My previous analysis for for #TRON is playing out as expected. The price bounced from the 0.382 fib level and the next resistance is the Golden Pocket at around $0.13.
If the price of $TRX can clear the GP then it will retest its previous ATHs! pic.twitter.com/pQNwm0VX8H
— CryptoJack (@cryptojack) May 10, 2024

Tron Alternatives

Today, the Tron price surged upwards, hitting the resistance level of $0.128. A positive breakthrough above the upper channel boundary could propel the market price toward the $0.135 resistance level. As the price continues to climb, more buyers may enter the market, bolstering bullish positions. Despite Tron’s substantial $11 billion market cap, placing it 13th in the crypto rankings, its large size may limit additional potential. Conversely, the new meme coin, Dogeverse ($DOGEVERSE), has garnered significant attention by raising over $15 million and attracting interest from prominent figures in the crypto sphere. Investors keen on Dogeverse are urged to seize the opportunity before the presale stage concludes.

Unveiling Dogeverse: Your Ticket to the Next 100X Meme Revolution!

With over $15 million raised, Dogeverse token presents an enticing investment opportunity that shouldn’t be overlooked. The remarkable success of its fundraising underscores the immense interest and potential surrounding this meme coin. Backed by a strong community and attracting attention from significant players in the crypto world, Dogeverse has already proven its ability to captivate investors.

You can benefit from Dogeverse today.