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Photo: TRON
Key points:
- If buyers increased their price, the rally headed north;
- the bears have control of the market,
- in the event that the support level of $ 0.05 holds, the price will increase;
Long-term trend TRX / USD: bearish
Resistance levels: $ 0.024, $ 0.031, $ 0.041
Support levels: $ 0.015, $ 0.010, $ 0.05
The currency moved upward last week to resistance levels of $ 0.024 with the formation of an upward candle inside the candle at the support level of $ 0.010. The buyers 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 with a further reduction in the price of last week.
The price is lower than 10 days EMA and 50 days EMA. There is a likelihood of further lowering the price to the support level of $ 0.015 this week. In the event that bears increase the pressure, the support level of $ 0.015 may not be maintained and the support level of $ 0.010 will be exposed.
If the support level of $ 0.015 were to remain, the price could rise in the next trading days, making a turn towards the North at $ 0.024. Period 14 of the stochastic oscillator on the daily chart is above level 70 with the signal lines pointing south, indicating that there may be a further bearish movement this week.
Medium-term trend in the TRX / USD price: bearish
The pressure of the bulls pushed the TRX / USD towards the resistance level of $ 0.024 last week, when more buyers arrived, but there was not enough momentum to break the resistance to the high . The cryptocurrency on the medium-term outlook is still bearish given that the 10-day EMA has passed the negative side of the 50-day EMA with the price lower than the 10-day EMA; indicates that there may be a downward movement towards the support level of $ 0.015.
If buyers increase their momentum this week, there is a chance that the price will move upwards towards the resistance level of $ 0.024. However, the Stochastic Oscillator Period 14 is greater than 20, with the signal lines directed to the south indicating a sales signal.
