#Tron Defying Strong Gravity, #TRX Buyers Target $0.
Past Performance of Tron
In a sea of red, Tron is defying gravity, ending last week strongly as per the candlestick arrangement in the daily chart. The coin is up roughly 10 percent in the past trading day and a massive 16 percent versus the USDT in the previous trading week. TRX bulls are resilient against bears, maintaining a bullish trend and impressively soaking in selling pressure.
#Tron Technical Analysis
Tron is within a bullish breakout formation from a top-down analysis. Notably, TRX prices are bouncing from the 20-day moving average, flashing with April 21 lows. The bull bar capped the recent price action. Since bears didn't drive TRX prices below $0.061, the sharp reversal from the critical level points to strength and trend resumption. Accordingly, TRX traders may search for entries with targets at April 21 highs of $0.075. Conversely, sharp losses below the middle BB may force TRX to $0.57.
What to Expect from #TRX?
Tron bulls are confident. The bullish engulfing bar of May 1 signals strength and possibly a resumption of the uptrend. In the immediate term, TRX may recover and retest April 2022 highs of around $0.075.
Resistance level to watch out for: $0.075
Support level to watch out for: $0.057
Disclaimer: Opinions expressed are not investment advice. Do your research.
In a sea of red, Tron is defying gravity, ending last week strongly as per the candlestick arrangement in the daily chart. The coin is up roughly 10 percent in the past trading day and a massive 16 percent versus the USDT in the previous trading week. TRX bulls are resilient against bears, maintaining a bullish trend and impressively soaking in selling pressure.
#Tron Technical Analysis
Tron is within a bullish breakout formation from a top-down analysis. Notably, TRX prices are bouncing from the 20-day moving average, flashing with April 21 lows. The bull bar capped the recent price action. Since bears didn't drive TRX prices below $0.061, the sharp reversal from the critical level points to strength and trend resumption. Accordingly, TRX traders may search for entries with targets at April 21 highs of $0.075. Conversely, sharp losses below the middle BB may force TRX to $0.57.
What to Expect from #TRX?
Tron bulls are confident. The bullish engulfing bar of May 1 signals strength and possibly a resumption of the uptrend. In the immediate term, TRX may recover and retest April 2022 highs of around $0.075.
Resistance level to watch out for: $0.075
Support level to watch out for: $0.057
Disclaimer: Opinions expressed are not investment advice. Do your research.
