TRON tests $0.05 as support and sees a positive reaction- what next?

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TRON tests $0.05 as support and sees a positive reaction- what next?
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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The sharp drop to $0.05 was quickly reversed The lukewarm Open Interest posed some questions to TRX buyers The altcoin market posted gains over the weekend. The market cap of altcoins (crypto assets excluding Bitcoin […]

laid out recently after slipping beneath the belt of support at $0.053. Its recovery and move higher to the resistance above $0.057 meant sellers could take short-term control, and the prices could continue to trade within the past month’s important levels.The area of support at $0.052, highlighted by the cyan box, was broken in the past few days. In doing so, the price also broke beneath the previous low at $0.0533, flipping the structure bearish.

The RSI, which had plummeted to 25 on the recent price slump, has recovered and sat at 57 to show some bullish momentum. However, the CMF stood at -0.04, after having fallen to -0.11 to show significant capital flow out of the market a couple of days ago. On 6 January, TRON tumbled nearly 6% in the space of five hours. Santiment data showed that weighted sentiment took a positive turn after this drop, as TRX bounced from $0.05 by nearly 6.5% from the lows to reach $0.0538.

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