TRX Technical Analysis: Above $0.06 Buyers Eye 10% Rise

TRX coin price shows a higher price rejection from the $0.070 mark, but buyers refuse a fall below $0.060 and prepare another bullish strike. Key technical points: TRX prices sustain above $0.060. The coin price challenges the 50-day EMA. The 24-hour trading volume of Tron is $1.54 Billion, reflecting a rise of 102%. Past Performance of TRX TRX prices experience a rise in trading volume to support the higher price rejection from the $0.070 resistance zone resulting in a fall to the $0.060. However, the buyers undermine the rise in selling pressure as the market price sustains above $0.060 and avoids a downtrend continuation. Source-Tradingview TRX Technical Analysis The TRX price action shows a Dragonfly candle formation promoting the possibility of an evening star pattern to continue the bearish trend. However, the downtrend continuation must find a closing below the $0.060 to undermine the bullish recovery and reach $0.055. With the bullish recovery challenging the 50-day EMA, the possibility of price sustaining above the bearish aligned EMAs increases. Hence, closing above the 50-day EMA will be a buying spotlight. MACD indicator: The MACD and signal lines are merged below the zero line indicating a potential bullish crossover coinciding with the price jump. RSI Indicator: The RSI slope shows a gradual recovery, with the 14-day average crossing above the halfway line. Hence, the momentum indicators reflect a surge in underl...