TRX Technical Analysis: Will Buyers Close Above $0.070?

TRX prices show a formidable selling pressure above the $0.70 zone pushing the bullish growth under. So should you expect a bullish favored closing today? Key technical points: TRX prices struggle to sustain above the $0.070 mark. The MACD indicator shows a bullish trend continuation. The 24-hour trading volume of Tron is $1.65 Billion, marking a 6% fall. Past Performance of TRX TRX coin price struggles to sustain above the $0.070 resistance zone and the 200-day EMA, coinciding with the resistance zone. After failing miserable yesterday, the buyers are recreating a positive candle but face higher price rejection lowering the chances of a bullish favored closing. Source-Tradingview TRX Technical Analysis The higher price rejection in the daily candle projects a bearish closing under the resistance zone. However, the bullish growth undermines the possibility of an evening star pattern and projects a potential rally. The crucial daily EMAs maintain a falling trend in a bearish alignment, but the spread between the 50 and 100-day EMA continues to lower. Hence, the chances of a bullish crossover are increasing significantly. The RSI slope suggests an upwards trend towards the midline, suggesting an increase in purchasing power. In addition, the 14-day average line indicates an uptrend above the mid-point line. The MACD and the signal line are continuing to keep an upward trend following an equilateral cross in the direction of bull...