Has a chance to break downwards or upwards. But I think it has a greater chance of upward movement and this is why:
Stoch RSI is touching the 30 line, and when it crosses north of 30 it should be assumed to entering bullish trend.
RSI is showing around 35, just recently recovering from oversold territory. Wait for 4h candle closeout to confirm current trend will continue bullish.
I am looking at 4hr macd and waiting for it to flip to bullish.
Bullish divergence is evident as we are seeing lower lowers while RSI is seeing higher highs; pressure is building
But it ultimately depends on what BTC is going to do, and whether the switch that sucks up alt-coins market cap while BTC pumps is turned on or not.
I have been eyeing the sell wall to burst through 11kUSD on coinbase and it has ballooned from last night's sum of a 700BTC sell wall, 12 hours ago to a sum of 1200BTC sell wall. It currently looks like BTC will have a good amount of difficulty moving past 11k and could possibly bounce off resistance and trail downwards for a few days, meaning a great opportunity for Tron to gain back some of its market cap.
-Glen
Stoch RSI is touching the 30 line, and when it crosses north of 30 it should be assumed to entering bullish trend.
RSI is showing around 35, just recently recovering from oversold territory. Wait for 4h candle closeout to confirm current trend will continue bullish.
I am looking at 4hr macd and waiting for it to flip to bullish.
Bullish divergence is evident as we are seeing lower lowers while RSI is seeing higher highs; pressure is building
But it ultimately depends on what BTC is going to do, and whether the switch that sucks up alt-coins market cap while BTC pumps is turned on or not.
I have been eyeing the sell wall to burst through 11kUSD on coinbase and it has ballooned from last night's sum of a 700BTC sell wall, 12 hours ago to a sum of 1200BTC sell wall. It currently looks like BTC will have a good amount of difficulty moving past 11k and could possibly bounce off resistance and trail downwards for a few days, meaning a great opportunity for Tron to gain back some of its market cap.
-Glen
Comment:
TRX has decided to break the falling wedge towards the upside. This coincides with BTC unable to stay above 11k, which would have created a market cap sink from alt-coins. Keep an eye on TRX.