TRX Technical Analysis: $0.086 Is The Maximum Possible Growth Target So Far
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As a result, the $0.05 mark remained and buyers have a new chance to form a new growth wave. Trading volumes during this trading week were also increased, which shows a real struggle in the market, rather than the manipulative antics of big players. Therefore, the formation of a price rebound with the first target of $0.086 is likely to be realized. This target limits the upper trend line of the consolidation triangle. Until buyers can break the $0.086 mark and establish control over the retest - we do not predict the next growth target. It is likely that above the $0.086 TRX price will not have the strength to move. If buyers are not able to break this markup, we will expect the formation of a new fall wave to the mark of $0.025.
TRX Technical Analysis On The Daily Timeframe
Analyzing the movement of the TRX price on the daily timeframe, we can see that at around $0.0555, buyers began to slow down the cryptocurrency fall. Due to the high emotionality in the market, sellers managed to break this markdown. However, no daily candle closed below $0.0555. If during the local correction buyers keep the TRX price above this mark, we will expect a local growth wave with the first target of $0.076. This mark played an important role in the formation of the fall wave from 1 January.
Pay attention to the daily timeframe for the candle from 13 June. It was after breaking the $0.076 mark that the TRX market collapsed. Prior to that, the TRX price did not react to the fall of the BTC price. It is likely that the price of TRX may be stuck in the range of $0.0555-0.076 for some time. However, this range is 35%. For medium-term trading, this is a great space for accurate low-risk trades.
TRXBTC Price Stopped In Front Of The Liquidity Zone 0.00000320
The TRXBTC weekly chart shows that the TRXBTC price has approached the important range that sellers control since 2019. In July 2019, the third attempt of sellers to break the range of 0.00000320 down finally succeeded. Since then, buyers have twice tried to regain control of this range. Now the third attempt is underway and we see that the weekly candles are starting to slow down in the liquid zone. In the event of an unsuccessful attempt, the TXRBTC price has the prospect of falling to the bottom of consolidation. And this is a 45-50% TRX price fall. Thus, at such an uncertain time, you should be extremely careful with TRX and not trade this cryptocurrency without stop orders.