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MonoCoinSignal
Jan 2, 2023 5:03 PM

TRX - Range trend but positive momentum 

TRON / TetherUSBinance

Description

During the past weeks, TRX had a range trend but positive momentum. The price of Tron entered a correction after the bearish wave, which was able to stay at the support level of $0.053-$0.054 by breaking the downtrend line drawn in the previous analysis. Again, a positive reaction has been observed at this level, which indicates the attempt of buyers to grow the price to the resistance of $0.057 to $0.059. In general, the major resistance in daily time is considered in the range of $0.070. But in the 4-hour period, if the $0.059 resistance is broken, we can expect further growth and an upward trend. So, in general, for this week, the resistances of $0.059 and $0.062 can be short-term targets for buyers. You can also consider a narrow ascending channel for the price in the 4-hour timeframe. As long as the bottom of the channel is maintained in the orange range, we expect the price to grow.
Comments
SwallowPremium
Good work!! We wish you profitable year!)
MonoCoinSignal
@SwallowPremium, thanks a lot, you too;)
UnitedSignals
Thank you for your analysis!
MonoCoinSignal
@UnitedSignals you are welcome
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