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There is the possibility for the currency to go down and test the support level of $ 0.015, if the bears increase their pressure, the support level of $ 0.015 can not be maintained.
Key points:
the currency could move down and test the support level of $ 0.015
In case the bears increase their pressure, the support level of $ 0.015 may not hold up
A fundamental radical event can cause a significant rally in the market.
TRX / USD Long-term trend: bearish
Resistance levels: $ 0.024, $ 0.031, $ 0.041
Support levels: $ 0.015, $ 0.010, $ 0.05
Buyers of TRX / USD were not able to push the price higher than the resistance level of $ 0.024. The price fell due to the downward pressure towards the support level of $ 0.015. Some bearish candles were formed which further reduced the price last week. The price is lower than the 10 day EMA and the 50 day EMA exceeds the 10 day EMA. There is a chance for the currency to go down and test the support level of $ 0.015 this week. If bears increase their pressure, the support level of $ 0.015 may not be maintained and may be exposed to another support level of $ 0.010.
However, it is likely that the price may rise in the next trading days, blowing north toward $ 0.024 as the Stochastic Oscillator Period 14 on the daily chart is below level 20 with the signal lines pointing north, indicating that there may be a bullish movement this week.
TRX / USD Average Price -Test Trend: Bearish
TRX / USD in the medium term is bearish. The currency broke last week's support level of $ 0.024 and rallied south and the price was exposed to the support level of $ 0.015. The 10-day EMA went through the negative side of the 50-day EMA with the lower 10-day EMA price which indicates that there may be a downward movement towards the $ 0.015 support level .
In the event that more buyers enter this week, there is a probability that the price will rise upwards towards the resistance level of $ 0.024 since the Stochastic Oscillator Period 14 is higher than 20, with the lines of signal directed towards the North. A fundamental radical event can cause a significant rally in the market.
Disclaimer: The opinions and opinions expressed here do not reflect that of Coinspeaker.com and do not constitute financial advice. Always do your research. Analyzes for analysis are provided by TradingView
