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Cryptoknowmics 2022-04-21 23:00:06

TRX Technical Analysis: Justin Sun Brings BOOM to TRX Prices

TRX coin price shows an outstanding bullish growth overnight to surpass all the crucial EMAs within hours. But will the uptrend survive above $0.070? Key technical points: TRX prices surpass the $275 mark. The 50 and 200-day EMA give a golden crossover. The 24-hour trading volume of Tron is $424.93 Million, marking a 93% rise. Past Performance of TRX TRX coin price shows a remarkable reversal with the news of Justin Sun launching an algorithmic stablecoin USDD on Tron Ecosystem and using $10 Bn crypto as collateral. The reversal rally reaches the 200-day EMA at the $0.071 resistance zone from the depth of the $0.060 mark. Source-Tradingview TRX Technical Analysis TRX coin price shows a high bullish commitment as the trading volume grows phenomenally to accompany the price surge. Hence, the uptrend may shortly reach the $0.077 mark if it sustains above the resistance zone. Today’s sudden price jump knocked out the 20-50-and-100 EMA slope in one strike. However, the 200-day EMA aligned with the $0.0714 resistance puts significant selling pressure on traders. RSI Indicator: The RSI slope(63) skyrocketed into the bullish territory, indicating the aggressive buying in the market. However, the indicator reflects a bearish divergence concerning the 31st March peak, projecting some weakness in this bullish momentum. MACD Indicator: The MACD and signal lines bullish crossover offers a buy signal for the interested traders. Moreover, th...

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