- 1
TRX price after consolidating within a narrow range broke down its consolidation - 2
TRX price might make a retest from the price of $0.067
After giving a bullish move in early January TRX has been consolidating within an ascending consolidation channel continuing this channel from mid-February till early March for almost 3 months while giving 8 to 16 percent on each move.
TRX’s price after taking resistance from the price level of $0.056 made a breakout and gave a rally of 30%. While the TRON price did try taking support from the base level of the consolidation it couldn’t sustain above it and after making a bearish candle it broke down below the consolidation pattern while making a negative candlestick pattern.
TRX price consolidating within an ascending channel (On Daily Timeframe)
According to the Greed and Fear index provided by the Alternative(dot)me site the market sentiments currently trading in the fear zone of around 44 points seeing a decline of 6 points since the last week when the market was trading near the neutral level of around 50 points. The bulls are currently dominating the majority of the cryptocurrency exchange platforms by a slight percentage of 51 – 55% while the bears are giving tough competition to bulls.
ການວິເຄາະດ້ານວິຊາການ (ໃນ 1 ວັນເວລາ)
TRX price is currently trading on an uptrend above the 200 EMA while the 100 EMA is crossing above it giving a golden crossover. While the price after trading above the 20 EMA is currently taking support from the 50 EMA. If the price takes support from the 50 EMA successfully with a strong bullish candle it might give an up move of 11 percent.
The RSI line is currently trading near the median line around 45.54 points while taking resistance from the 14 SMA which is trading at around 51.98 points. The upward RSI is suggesting that it might start moving toward the supply zone although the 14 SMA might provide some resistance to it.
ສະຫຼຸບ
TRX price is currently crossing below the consolidation patterns baseline around the price %0.670 by giving a bearish candlestick pattern of a dark cloud over which is often found at the beginning of the bearish trend reversal. Where the first candle is at $0.067 and the next candle is just below going to $0.065 although the price is making a bullish candle at present but that might be being made for the retest before the continuation of the trend while the price is trading above the 200 EMA.
ລະດັບດ້ານວິຊາການ -
ສະຫນັບສະຫນູນ - $ 0.629
ຄວາມຕ້ານທານ - $ 0.072
ຂໍ້ສັງເກດ
ທັດສະນະແລະຄວາມຄິດເຫັນທີ່ຂຽນໂດຍຜູ້ຂຽນ, ຫຼືຄົນທີ່ມີຊື່ໃນບົດຄວາມນີ້, ແມ່ນສໍາລັບຈຸດປະສົງຂໍ້ມູນເທົ່ານັ້ນ, ແລະພວກເຂົາບໍ່ໄດ້ສ້າງຕັ້ງທາງດ້ານການເງິນ, ການລົງທຶນ, ຫຼືຄໍາແນະນໍາອື່ນໆ. ການລົງທຶນໃນຫຼືການຊື້ຂາຍຊັບສິນ crypto ມາພ້ອມກັບຄວາມສ່ຽງຂອງການສູນເສຍທາງດ້ານການເງິນ.
Source: https://www.thecoinrepublic.com/2023/03/10/trx-price-analysis-trx-price-broke-down-its-consolidation/