TRX - 6h. Buyers have a chance to test $0.07
Updated
TRX Buyers aggressively launched an attack in the $0.037-0039 range yesterday. This range from August 2020 keeps the price from continuing the growth trend. 3 previous attempts by buyers to take control of the range ended in a sharp reversal of the price to the liquid price zone of $ 0.023-0.024.
However, this attack is special. In our opinion, the buyers managed to neutralize the main sellers on January 29. The strong momentum on high volumes has satisfied many sales orders. After such an event, the sellers did not launch a counterattack, which signaled their weakness.
Today we see that the price of TRX is uncorrected to the mark of $0.05. this mark is in fact the limit of the global 2-year consolidation. After breaking this mark, buyers will be able to continue to grow to $0.07. However, if we remember that the historical maximum of TRX is around $0.2 - there is still a lot of work for buyers.
___________________
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However, this attack is special. In our opinion, the buyers managed to neutralize the main sellers on January 29. The strong momentum on high volumes has satisfied many sales orders. After such an event, the sellers did not launch a counterattack, which signaled their weakness.
Today we see that the price of TRX is uncorrected to the mark of $0.05. this mark is in fact the limit of the global 2-year consolidation. After breaking this mark, buyers will be able to continue to grow to $0.07. However, if we remember that the historical maximum of TRX is around $0.2 - there is still a lot of work for buyers.
___________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trade closed: target reached
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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