TRON / TetherUSShort
Brief Analysis ——TRX
Today, we bring a brief analysis of two more popular tokens. They are TRX and DYDX.
From the beginning of 2023, TRX rose with fluctuation and the price maintained a movement within the bullish channel (green range). Even on June 10th, when the SEC brought FUD to the whole market, the fall of TRX was not destructive. After that, the price returned to the previous high again. Recently, the price attacked the resistance level 0.085 twice but failed. Subsequently, the bears gained power and three long red candles formed. The fall was accompanied by increased volume, and there does not seem to be any strengthening for the bulls.
Conclusion: The high probability fall has not ended. On a large scale, TRX remains bullish, but on a small scale, bears was much ahead. So we come to this conclusion. The bulls may gain strength after the price approaches the green dotted line. We set this week's resistance level at 0.085 and support level at 0.068.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
From the beginning of 2023, TRX rose with fluctuation and the price maintained a movement within the bullish channel (green range). Even on June 10th, when the SEC brought FUD to the whole market, the fall of TRX was not destructive. After that, the price returned to the previous high again. Recently, the price attacked the resistance level 0.085 twice but failed. Subsequently, the bears gained power and three long red candles formed. The fall was accompanied by increased volume, and there does not seem to be any strengthening for the bulls.
Conclusion: The high probability fall has not ended. On a large scale, TRX remains bullish, but on a small scale, bears was much ahead. So we come to this conclusion. The bulls may gain strength after the price approaches the green dotted line. We set this week's resistance level at 0.085 and support level at 0.068.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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