6 hours ago
Up until now, TRX has yet to find a major break as it continues to trade sideways on the daily scale. However, its short-term outlook remains weak, but there’s hope for an increase if it resumes long-term bullishness. TRX’s bullish trajectory remains intact in the long term, but the demand appears extremely low on the daily chart as the price remains captured in a range. While struggling with volatility every week, it may continue to move sideways until the price breaks out of the range. However, it has seen a slight reduction in the past week as the entire crypto market takes a downturn, but the $0.21 level holds well this time and is now slowly climbing back while still trapped in a tight range. A continuous hold above this level could trigger buying if the demand level increases. Now, there’s lack of interest on the weekly scale. The long consolidation phase reflects a moment of liquidity gathering while the next direction of the market is yet to be ascertained. But considering its bullish trajectory from a long-term scale, the asset may resume buying anytime soon. Meanwhile, the bears still look more dominant on the short-term scale following the sudden late 2024 drop that led to a serious decline since the start of the year. If they take charge again, TRX may break below the holding yearly $0.2 low to a new one. It is currently trapped, finding it difficult to get out of the wood. TRX’s Key Level to Watch Source: Tradingview The main obstacle for the bulls lies at the $0.25 level. A break through there could bring buying pressure back to $0.275, along with the $0.31 resistance level. For the bears, the $0.211 and $ 0.186 levels are the barrier zone to keep an eye on. A breakdown there could cause some havoc with a potential dip to $0.165. Key Resistance Levels: $0.25, $0.275, $0.31 Key Support Levels: $0.211, $0.186, $0.165 Spot Price: $0.23 Trend: Neutral-Bearish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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XRP to $5 by 2025? MAGACOINFINANCE Traders Are Hoping for More
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