What's up Guys , in this analysis I gonna talk about TRX
As you can see in the daily and weekly time frame for pair of TRX/USDT ,since 16 April it has been declining after recording new ATH about 0.18$ ,
and now we can see that TRX is compressing in an descending or symmetrical triangle pattern ,
also there is a possibility of further fall right now bcs of crossing under of emas ,
and now It is trading above pivot zone and if break out this current zone in can go down to lower support and Demand area ,
meanwhile it has reached the bottom of triangle again and can have a jump again ,
by breakout of descending trend line , there is a high possibility to reach the targets respectively and seeing new ATH in the long-term .
so in this case it can continue its rally by closing above resistance range and have a pulback and continue .
🛑resistances: $0.099-0.107///descending trendline
🆚pivot zone: $0.057-0.064$
❇️supports: $0.012345-$0.03142 ////ascending trendline
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
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Note
trxusdt ( weekly time frame ):
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.