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The bulls have been attempting to put a bottom in place for the past few months. The TRX/USD pair consolidated between $0.0183 and $0.0281551 for about three months, before breaking down on Nov. 19. An attempt to climb back into the range failed and the bears are attempting to extend the downtrend. The breakdown gives it a pattern target of $0.00844479. If the decline doesn’t stall at this level, then the next support is at $0.00554133.
However, if the bulls defend $0.01089965 and push the price back above $0.0183, the digital currency will indicate a probable trend change. Until then, every pullback will be met with a wave of selling, hence, it is better to wait and watch.
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