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Cryptoknowmics 2022-06-27 14:00:57

TRX Technical Analysis: Tron Prices Boom, Ready To Reach $0.080

TRX prices display a recovery rally surpassing the $0.065 mark and form a bullish candle teasing an uptrend continuation to $0.080. Key technical points: The TRX market price has increased by 6.44% over the past 24 hours. The price action shows a V-shaped reversal rally sustaining above $0.065. The 24-hour trading volume of Tron is $611 Million, indicating a hike of 52%. Past Performance of TRX TRX price action shows supply in June brought the market value close to the $0.055 mark from the heights of $0.085. However, the sharp V-shaped reversal keeps the prices floating above the psychological mark of $0.050 and results in the $0.065 breakout. The reversal rally accounts for a jump of almost 25% in the last two weeks. Source- Tradingview TRX Technical Analysis TRX price grows by 6.57% today, forming a bullish engulfing candlestick standing above the $0.065 level. However, the falling trend in trading volume opposes the bullish rally and warns of a bearish turnaround. The DMI indicator shows a sharp decrease in the bearish spread, teasing a potential bullish crossover. However, the inflated ADX line reflects a high trend momentum which may support the breakout rally. The RSI indicator shows a gradual increase in the underlying bullishness as the slope slowly rises above to reach the halfway line. And the lack of bearish divergence goes against the falling trend in the trading volume. After the recent bullish crossover, the MACD...

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