TRX Poised for Strong Bull Run: Capital Inflows Could Fuel Rally

• TRX recently broke the $0.0711 support level, signaling bullish intent for a potential rally.
• The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) indicators suggest that there is significant capital inflows to Tron.
• A successful bullish session close on the daily timeframe could solidify the bullish sentiment and push TRX towards $0.0787.

TRX Ready for Bull Run?

The crypto market saw a correction in June which caused Tron’s [TRX] price to drop from its year-high of $0.0857 to its local low of $0.0627. However, recent signs of increased capital inflows suggest that the altcoin could be poised for another significant rally if it successfully closes above the $0.0711 resistance level on a daily timeframe.

Break Above Resistance Level

Tron’s break above its latest lower high signaled bullish intent for buyers as they look to reverse recent losses and capitalize on Bitcoin’s own positive outlook in the market. This has been further supported by both the Relative Strength Indicator (RSI) and Chaikin Money Flow (CMF) reading positive values at 58 and +0.20 respectively, showing that there is significant capital flowing into TRON currently.

Price Target at $0.0787

Long-term buyers can thus look to long TRX after a successful bullish session close on the daily timeframe which would solidify this current uptrend and drive prices towards its next resistance level of $0