Weekly TRX Price Analysis || 10% To @tron-fan-club

Good day to you all. And Hello. Today I'm back with another weekly price chart breakdown. Today again we talk about TRX. We have had the crash almost 4-5 days ago. But TRX hasn't taken that much of a hit from that crash but constantly failing. Something which nobody would love to see. nonetheless here goes my usual breakdown.

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Our current week of analysis starts when the prices were at 0.0644$. Now if you remember my post from last week, TRX was on going downhill. Which was subsequently caused by the crash of last week. Before which TRX was expected to go up. But that didn't happen. Now, the going downhill part, the trend continued recording lower highs and lower lows on hourly closes. Then the crash took place.

This weeks crash makes it clear that pump throughout last week was a bull trap. The crash had its' ripple effects on TRX too. Taking the prices all the way down 0.0624$ as many people panicked and sold whatever they were holding so they don't lose money on the crash. The panic continued and people were still selling for some while. Until it finally stopped and we see our first green hourly close.

What continued was a very very steady growth in value for TRX. We can see the low point of 0.0606$ was acting as the support barrier. From 14th September all the way to 18th. 4 consecutive days. In the meantime the value of TRX has increased. Not by much. But and increase is an increase. Taking it as high as 0.0625$. Nowhere near where TRX was at the start of the week, but it was gaining. Only for the next pullback to completely reverse the dynamic.

The reversal which ensued after reaching 0.0625$, took the coin's value to a new low as it broke the support barrier after attempting thrice previously. The prices tanked at 0.0594$. After which we have almost caught up to the present. As the last few hours on the chart show gains in value. But it is too small to be labeled as a certified uptrend. The pullback to this can turn into a reversal.

All Screenshots are taken from Coingecko

Regardless of the crash, TRX is continuously failing. But TRX looked healthy beforehand. This time it isn't following the BTC price movements like last week. If the support barrier holds, then we can finally expect improvement. That was my thought about last week's TRX price movements. I hope you all like it.

Thank You.