An interesting situation has arisen in the TRX market. In fact, from August 2020, the TRX price cannot overcome and fix above the range of $0.32-0.346. Around this range, the global price fall to $0.0068 began. On the other hand, buyers are skillfully keeping the trend line from May 2020 and pushing the price to break a resistance. Past Trends 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. TRX opened at $0.036 on February 6, 2021. The TRX closing price as of February 13, 2021, was $0.055. In short, the price has risen by approx. 53%. In the past 24 hours, TRX has traded between $0.051 – $0.057. https://ift.tt/3aZbCOl TRX Moving Further with a Bullish Trend Today, TRX opened at $0.055. Currently, it is trading at $0.057. Thus, price is uptick. Moreover, the price is trading above the EMA and SMA lines. Hence, we can expect the price to rise further. The A/D line has risen steadily in the last 24 hours. So, buying pressures are high. However, the OBV line is volatile. It was sloping downwards a few hours back but is steadily rising now. Thus, buying activity is slowly surpassing selling activity. Hence, we can expect a price uptrend. Presently, the RSI indicator is at 55%. It faced a bearish swing rejection at 70% and fell to the current level. It is a good time for swing traders to go long. The price is expected to drop as whale offloading activity is high. The MACD and signal lines are positive but all set to cross below the zero line. They will turn negative soon. Moreover, a bearish crossover by the MACD line over the signal line indicates a price pullback. The ADX indicator is volatile with intermittent peaks and troughs. Thus, the bullish trend is not having enough strength. The market is losing its breath. Currently, the AO indicator is exactly at zero. In short, it is neutral. The Aroon indicator is showing positive signs. The Aroon up line has crossed above the Aroon down line. Hence, the price may rise further. However, at present the price is facing stiff rejection at $0.057. Presently, TRX is trading above the first Fibonacci pivot resistance level of $0.056. The bullish trend is confirmed only if the price breaks out of the second Fibonacci pivot resistance level of $0.058 in some time. The bull-run will continue tomorrow if TRX price closes above the third Fibonacci pivot resistance level of $0.06 today.
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