TRON (TRX) Shows Potential to Surpass $0.35 Resistance Amid Bullish Market Structure

Key Points

1. TRON (TRX) has rallied over 8% since mid-July, outperforming Bitcoin, which declined by 3.5% during the same period.

2. TRON exhibits a strong correlation with Ethereum (0.94), benefiting from Ethereum's market trends and investor sentiment.

3. The altcoin's price action suggests a favorable buying opportunity, with key support at $0.32 and potential to challenge the $0.35 resistance level.

4. Technical indicators, including the Chaikin Money Flow (CMF) and Money Flow Index (MFI), support the continued uptrend for TRON.

5. A decisive break below the $0.32 support level could signal short-term bearishness, warranting caution from traders.