Moving Charts: TRX Value Per Coin Analysis | 10% To @tron-fan-club
Hello and welcome to everyone at the Tron fan club. Today we take a look at TRX and its price movements. Very recently the market has been relatively stable and is actually gaining some pace. Trx has been following the mass trend and the result is reflected in the chart. And as usual, we start from a week ago.
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TRX performed well in the previous week, 5.3% increase within that timeframe. Starting from 0.0735$, it is currently trading at 0.0775$. It broke out the resistance level we drew last week. Then it gained some momentum and now is in a very crucial point.
TRX broke through the resistance cloud of 0.0737$, which was a very strong resistance. As a result, it started to head upwards. There was a fake dump in the middle of the week. This "dump and run" movement helped TRX to reach higher.
This bullish trendline (shown above) has now become a important support level for TRX. TRX followed this trendline throughout the week. As we are currently retracing back, it is important to atleast hold above this trendline. Losing it may cause downward pressure on the price.
Another indicator, "penta wave", is suggesting that we have completed all the waves. So in the upcoming days, the price may consolidate under the resistance level. It may fluctuate in a short range before it breaks out in either ways.
All Screenshots are taken from Binance
My prediction is that we fall back to 0.076$ range, which may prove to be a good support level. And then we may bounce back to 0.078$ and try to break that resistance. We might move in this range for a while.
No words from this article should be taken as financial advice.
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