DAILY NOTION: TRON Technical Analysis: TRX breakdown targets $0.022

18 Nov 2020, 17:41 · 阅读量 351

TRON retreated extensively from September’s peak of $0.05 before consolidation took over between $0.025 and $0.027.

Despite the recovery that came into the picture at $0.0225, TRX appears to have resumed the downtrend targeting $0.022.

The smart contract token recently recovered from the dip where it stepped above $0.026.

Nonetheless, the bullish momentum lost steam at the 100-day Simple Moving Average (SMA), leaving $0.027 untested. This recovery occurred amid the surge across the market and Bitcoin's spike to levels above $18,000.

TRX/USD has been rejected by the 100 SMA and declines have even overshot the 50-day SMA.

The token is trading at $0.0255 as the bearish grip becomes stronger. If the immediate support at $0.025 fails to hold, TRX will probably resume the downtrend towards $0.022.

DAILY NOTION: TRON Technical Analysis: TRX breakdown targets $0.022

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