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- TRX / USD flirting with a large purchase area, historically proven to see buyers sink in.
- Justin Sun sings praises on $ 100 million TRX trading volume for Tron DEX.
TRX / USD has suffered a lot, in line with a large bear reversal observed across the board. The price is falling sharply, closing on the newspaper in red. After the TRX / USD fell against a rising and retesting rising trend line, sales pressure was constant. Within the current trend, the price today – Thursday 15th In November, he was forced to go down to the lowest level seen in about nine weeks.
TRON News Flow
The TRON foundation has not been shy about the recent update, continuing to bring out positive developments from the field. Only recently has a new decentralized Tron exchange been launched, DEX. In recent days has seen great popularity. Tronscan.org was recognized by Tron's founder, Justin Sun, via Twitter, which heavily contributed to a further recovery in trading volumes.
Justin Sun tweeted, "Trx.market breaks the trading volume of $ 100 million TRX! The next milestone is 500 million". The founder continues to be very supportive of these projects based on TRON, given its active recognition through social media. Despite the protracted bear market, Sun disregarded this in a recent tweet, showing a screenshot of the double-digit losses seen on Wednesday in the encrypted market. So he compared the view of Coinmarketcap with Tron's DEX in a rather comical way, showing the pairs related to the TRX exchanged in green.
Technical review – TRX / USD
TRX / USD daily table
TRX / USD bears have in the session testing a vital area of demand. We see tracking from $ 0.01800 to 0.01700. Previously in August and September, the area mentioned provided solid support in supporting the price. More recently, the price fell in this area on 12th September, where TRX / USD gradually gained over 60%. Previously, on August 14ththbuyers have entered the market, seeing the price gradually gain over 70% over a period of time.
Given the history of the buyers camped in this area, the bulls should come back into play imminent. If this should be the case of TRX / USD, the eyes will be subjected to a new test of the broken upward trendline. You can see about $ 0.02550. The bears had initially violated this support area on 29th October. TRX / USD was supported in its highest move, from 12th September, from this trend line, before the lower break.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
