Hello and welcome to episode 27 of TA (Technical Analysis) Today we are diving into The TRON TRX Token!
TRX is one of my favourite tokens and being an investor myself, I keep an eye on the price action of this token and have shared my analysis on it with you earlier as well. The last few weeks have not been good for most cryptocurrencies, but you may be surprised to know that the TRX token has held itself relatively well even during these stressful times.
If you read my analysis, you must have seen this chart shown above in my previous analysis as well. And by looking at the extended price action, you can understand how beautifully the price has held itself so far.
In the below screenshot, I have simply extended the lower grey support area, which shows that the price is still holding above a key sell-off zone while most cryptocurrencies are in a persistent selling environment.
However, here you can also see a structure of lower highs which shows the pressure of sellers from the higher level. Meaning, from here you can see 0.25 as the first resistance on the upside, after which the price will have to make a bullish close above 0.28 for continuation.
A good support is expected to form around 0.22 but a bearish close precisely below 0.215 can cause a big weakness in this token. Only time will tell what will happen but this is one of those few tokens that can really make you rich and the most important thing needed for that is patience.
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Nice analysis about Tron TRX price.
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Thanks!
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TRX price action analysis was great, I really liked it, I hope you analyze steem Coin in the future, thank you
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Thank you!
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I really liked today's Trx analysis.
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Thank you!
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Hi @su-zu,
Very detailed trx price analysis, current market condition is dealing with high sell pressure. I think people are moving their asset into Bitcoin though I am not sure.
Please create a support ticket on our discord server as soon as possible for urgent matter, otherwise your curation will be paused.
https://discord.gg/AJnKwdtJ
Thanks.
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Sorry, I rarely open Discord but I have just created a ticket!
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@veigo It has been three days since I created the ticket. Can you tell me what the issue is? I am not even blogging because of paused curation. Please Answer!
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