Tron [TRX] Surges 8.5%, Can Bulls Push it to $0.09?

• Tron [TRX] sustained bullish momentum with 8.5% gains over the past seven days.
• Bulls are seeking to reach the May 2022 price zone of $0.0878 to $0.0928.
• Shorts accounted for 77% of liquidations in the futures market.

Tron’s Bullish Momentum

Tron [TRX] has sustained a strong bullish momentum with 8.5% gains recorded over the past seven days, resulting in a break through a year-long resistance level at $0.0711 on 20 May 2021. The bullishness has spurred bulls looking to reach for new heights and aim for the May 2022 price zone of $0.0878 to $0.0928, as supported by on-chart indicators such as RSI and OBV that remain well above the neutral 50 mark and firmly on an upward climb respectively..

Futures Market Sentiment

Liquidation data from Coinglass revealed that shorts were massively wrecked in the futures market with $2.72 million short positions liquidated as against only $778k long positions, accounting for 77% of total liquidations over this period which suggests a heavily tilted market sentiment towards buyers/longs rather than sellers/shorts..

Risk Factors

As with any investment, there is no guarantee that bulls will be successful in reaching their target price levels or that prices won’t retrace due to volatility or other factors out of their control; however, these levels do present an opportunity for investors looking for potential entry points before prices rise further..


It should also be noted that this article provides information only and does not constitute financial advice or trading advice; readers should always conduct their own independent research before making any investments or decisions regarding cryptocurrency investments and digital assets..


Despite some possible risk factors involved, Tron’s bullish momentum may potentially lead it to reach its target price levels if bulls can maintain their current trend; however, investors should always conduct thorough research before making any decisions when it comes to investing in cryptocurrencies or digital assets..