Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-05-20 04:15:03

TRX Technical Analysis: Bullish Reversal Prepares 15% Hike

TRX prices reflect an increase in the underlying bullishness as the growing market value prepares to surpass the $0.075 barrier. Key technical points: TRX prices have increased by 4.76% in the last 24 hours. The RSI values present an increasing bullish influence on the price trend. The 24-hour trading volume of Tron is $1.031 Million, reflecting an 8% rise. Past Performance of TRX TRX prices experienced a surge in buying pressure with the start of April, resulting in a bullish spree above the 200-day EMA and reaching $0.085. The bull run accounted for a price jump of more than 35% within the first week of April. However, due to the LUNA controversy, the market value of TRX declined sharply, undermining all the bullish growth and reaching the 50-day EMA. Source-Tradingview TRX Technical Analysis After approaching the 50-day EMA, we can see a halt in the downtrend and an increased number of bullish breakout attempts above $0.075. The recent effort shows a 4.76% bullish engulfing candle breaching the 200-day EMA with increased trend momentum. The crucial daily EMAs maintain a sideways flat trend, but the recent 100 and 50-day EMA bullish crossover projects a rise in underlying bullishness. Moreover, the declining bearish spread between 50 and 200-day EMA increases the chances of golden crossover. The RSI indicator increases bullish influence on the price trend as the RSI slope hikes above the halfway line with a parabolic recover...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer