In case bears increase their momentum there is a probability that the price will experience downtrend movement below the support level of $0.025.
Key Highlights:
- There is a tendency for price reduction;
- a breakdown of the price below the support level of $0.025;
- there is a probability for further increase of the price.
TRX/USD Long-term Trend: Bullish
Resistance levels: $0.026, $0.028, $0.031
Support levels: $0.025, $0.022, $0.020
Currently, the price is retesting the resistance level of $0.025. The coin is above the 10-day EMA and the 50-day EMA is below the 10-day EMA; which means there is a probability for further increase of the price from the support level of $0.025. In case the support level does not hold, there may be a break out to the lower support level of $0.025.
The Stochastic Oscillator Period 14 on the daily chart is above the 25 level with the signal lines pointing to the north, indicating that price may increase.
TRX/USD Price Medium-term Trend: Bullish
As at now, the bulls are in control of the market as TRX is above 10-day EMA and the 50-day EMA; it indicates a continuation of uptrend movement.
In case bears increase their momentum there is a probability that the price will experience downtrend movement below the support level of $0.025. Nonetheless, the Stochastic Oscillator Period 14 is below 50 levels with the signal lines directed towards the south indicates a sell signal.
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