Moving Charts: TRX Value Per Coin Analysis | 10% To @tron-fan-club
Hello and welcome to everyone at the Tron fan club. TRX has been performing great in the last few months. This was another eventful week for TRX. We have seen the token lose a substantial amount of value and quickly gain all of it back. Today we look back at the price movements of TRX over the last few days.
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TRX enjoyed a powerful uptrend from AUG'23 to FEB'24. In this time, TRX's price literally doubled. Although other cryptocurrencies faced a lot of hiccups in the road, TRX was pretty much stable in its growth until the last four months. This last four month is becoming an exception, as TRX lost value this time. The week started with TRX breaking through the resistance zone of 0.124$.
After fluctuating a lot at the beginning of the week, TRX started going upwards. It was just under 0.124$ only seven days ago. After breaking through the resistance, it started going up very quickly. But in the middle of the week, it got rejected at 0.13$.
TRX is up 3.33% in a span of seven days. This happened because after getting rejected at the resistance, it quickly fell and lost the bullish trend. But it is still above the support level of 0.122$. So, it needs to hold onto this support and break-though the 0.123$ resistance. Now, TRX is hovering around 0.129$.
All Screenshots are taken from Coingecko
No words from this article should be taken as financial advice.
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Great article indeed trx seems to be rapidly gaining ground almost like it wants to catch up with steems price but of course fingers crossed I hope they both do well.
I always believed that Tron is highly undervalued and even now I have the same thought that it can do well in upcoming market cycle so it is the best time to invest on this coin and wait for the right time. This analysis is quiet informative.