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A look at the weekly chart for TRX shows that the price has dropped 95% in value from the January high of $ 0.34 and is now trading at around $ 0.015.
The price is moving in a descending support line, represented by the continuous green line.
Long-term Outlook
Continuing with the 3 day chart, there is a bullish divergence in all three RSI, MACD and Chaikin Oscillator.
Furthermore, the MACD made a bullish cross (yellow arrow).
However, the price is facing the resistance of moving averages of the period 7 and 21 and a thick cloud.
Medium-term Outlook
Continuing with the daily chart, we can see that the price has moved beyond the 7-period moving average and is now facing resistance from the MA period of 21 years.
The price is under the cloud and well below the 200 MA period.
On a more positive note, the MACD is almost positive and growing.
Short-term Outlook
Finally, a look at the 6-hour chart shows us that the price has broken short-term resistance from the beginning of December (continuous red line).
Currently, the price is higher than the moving averages of the period of 7.21 and 50, but is facing resistance from the MA period of 200 and from the $ 0.016-0.018 area, which is a former support area.
Furthermore, RSI is overbought, but no bearish divergence has yet developed.
conclusions:
- The price fell 95% from the January high.
- The price is facing resistance at $ 0.016-0.018.
- The price has developed significant long-term bullish divergences.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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