TRX was in a price pullback. TRX could drop to $0.05327 or lower. A break above $0.05488 will invalidate the above forecast. TRON [TRX] fell by 2.9% after a recent near-term price reversal. The recent correction followed after price rejection at the $0.05488 level, turning the level into a major short-term resistance. At the time […]
TRX broke below support at $0.05353, but $0.05327 remained steady. The bears could push TRX prices lower as they have more influence in the market.
Similarly, the Chaikin Money Flow indicator crossed below zero and slid into the negative side, showing a shrinking market. The selling pressure could see TRX retest or break below the current near-term support range of $0.05353 – $0.05327. A break below the range would see TRX settle at a new support range of $0.05187 – $0.05224. These levels could serve as short-selling targets for bears.
According to Santiment, TRX recorded a sharp increase in development activity. The uptick also boosted investors’ confidence as weighted sentiment moved towards a neutral position from the deep negative area.
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