Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice After registering double-digit gains in its rising wedge, Tron [TRX] saw an expected breakdown from its reversal pattern. The decline from the 50 EMA (cyan) helped sellers keep the buying pressure under check. An inability […]
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
An inability to close beyond the 50% Fibonacci level could extend the sluggish phase in the coming days. At press time, TRX was trading at $0.06842, up by 2.85% in the last 24 hours.TRX noted a rather short-lived recovery after dropping towards its yearly low on 15 June. The revival from its long-term support entailed a bearish rising wedge structure on the daily chart.
A sustained decline from the 50 EMA could force the crypto to retest the POC zone. In this case, the potential targets would rest in the $0.063-$0.0614 range.
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Buying TRON in $0.062 area to sell it at this level could be profitableDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. TRON [TRX] has defied the broader market trend on certain occasions in the past four months. For example, when most of the altcoins began to fall in early April, TRX actually rallied from $0.058 […]
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