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Cryptoknowmics 2022-04-23 10:16:34

TRX Technical Analysis: Buyers Face Another Rejection $0.070

TRX coin price shows a sharp reversal led by the profit bookers exiting at the resistance confluence of the 200-day EMA and $0.070. Key technical points: TRX prices fail to surpass the $0.070. The MACD and signal lines give a bullish crossover. The 24-hour trading volume of Tron is $1.233 Billion, marking a 68% fall. Past Performance of TRX TRX coin price shows a bullish offshoot reaching the resistance confluence of the $0.070 mark and the 200-day EMA. However, the sharp increase introduced a spot for profit booking resulting in a sharp fall of 5.83% within a day, forming a bearish piercing candle. The downfall reaches the 100-day EMA and hopes for a bullish reversal. Source-Tradingview TRX Technical Analysis TRX token price holds the $0.065 mark and shows a potential reversal to retest the resistance zone. However, the trend must sustain above the 100-day EMA to show recovery in the upcoming sessions. The daily chart’s bearish alignment of the crucial EMAs reflects a gradual bullish rise, with the 100-day EMA providing support. However, the collapse of the supporting EMA will ensure a fall to the 50-day EMA. RSI Indicator: The RSI slope reflects a bullish reversal from the nearly overbought zone representing a boom in the underlying buying pressure. Moreover, the 14-day average line shows a bullish reversal after a sideways trend. MACD Indicator: The MACD and signal lines maintain an uptrend after the bullish crossover and s...

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