Tron [TRX] Outperforms Amid Bearish Market Declines

Tron is once again outperforming among major cryptocurrencies.

Although the price has been declining with the market, it is holding its value better than the peers and almost trading flat today.

In the week. A big factor to play in this outperformance could be surpassing the 200 simple moving average (SMA)

The 200 SMA is often used by analysts to identify the direction of the long-term trend, and it is a lot more bullish when the price is trading above it.

Steep drops yesterday to meet the SMA.

Today's candle is forming an all-around high-risk trading market.

The daily candle is currently forming a Doji which is a candle

The bearish price movements yesterday broke through the two support levels at both $ 0.031 and $ 0.028. $ 0.028 to $ 0.031 was an important area of ​​growth during bearish drops in August.

Price returned to the above hourly chart.

The hourly chart shows more bullish

Price has formed to be higher today as shown by the black arrow on the above chart, and the most recent.

Resistance will be expected if the price can rise to $ 0.028.

Key Takeaways:

• Tron among outperforming cryptocurrencies amid bearish market drops.
• Tron surpassing the 200 SMA earlier in the week could be playing a big factor in the outperformance being seen in Tron. 200 SMA seems to have a play as a point of support at yesterdays low.
• Today's daily candle is forming an inside day and also forming in Doji.
• The bearish price movements brought the price below the key levels at both $ 0.031 and $ 0.028.
• Recent price action is looking more bullish. Resistance expected at $ 0.028

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