The past month has been positive for TRON (TRX). The TRX price started rising phenomenally from February 8, 2021. This price influx can be mainly attributed to the protocol upgrade approved by the TRON community. Past Trends in TRX TRX started trading at $0.057 on February 12, 2021. As of February 18, 2021, the closing price of TRX was $0.055. The price has dipped by approximately 4% in the past week. In the last 24 hours, TRX was trading within the price range of $0.052 and $0.064. https://ift.tt/3qB2fuQ Technical Indications for Tomorrow Currently, TRX is trading at $0.061. The price has increased from the opening price of $0.055. Thus, the price is on an upswing. Presently, the price is below the 20-day SMA. It is closer to the lower Bollinger band. This implies that selling pressures are high. Hence, we can expect a price pullback. The RSI indicator is at 43%. It is steadily falling to the 30% level. Thus, whale offloading activity is high. Similarly, the stochastic oscillator is in the oversold territory. The actual value line crossed the 3-day SMA line from below. This indicates a positive trend. It is also a good time for swing traders to go long. The stochastic oscillator will start rallying soon. The MACD and signal lines were positive for the past few hours. However, now they have turned negative. A bearish crossover by the MACD line over the signal line indicates bearish market momentum. Thus, price corrections are on the horizon. There may be a brief price pullback. The AO indicator has turned negative. ‘Sell’ signals are becoming stronger. The A/D and OBV indicators have started falling gradually. Thus, whale distributions may soon overtake the market. The overall market momentum is turning bearish. A price pullback looks imminent. The current price nearing the first Fibonacci pivot resistance level of $0.062. We can expect the price to go above the second Fibonacci pivot resistance level of $0.064, by the end of the day. The price has gone above the 23.6% FIB retracement level of $0.061. Earlier in the day, the TRX price successfully tested the 61.8% and 38.2% FIB retracement levels of $0.057 and $0.059, respectively, and broke out of them. If the price is able to surpass the 23.6% FIB extension level of $0.067, then it is confirmed that the bearish trend has become stronger. Thus, we can expect the TRX price uptrend to continue tomorrow as well with intermittent price adjustments.
The post Expect TRX to Go Past $0.062 appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
