{"id":227511,"date":"2019-05-23T18:31:28","date_gmt":"2019-05-23T22:31:28","guid":{"rendered":"http:\/\/insidebitcoins.com\/?p=227511"},"modified":"2020-06-11T10:51:05","modified_gmt":"2020-06-11T14:51:05","slug":"tron-trading-trx-bears-dominate-pulling-price-towards-next-support","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tron-trading-trx-bears-dominate-pulling-price-towards-next-support","title":{"rendered":"Tron Trading: TRX Bears Dominate Momentum, Pulling Price Towards Next Support"},"content":{"rendered":"

Tron (TRX) Price Analysis \u2013 May 23<\/h3>\n

The TRX market has been trending in the opposite direction since the Dollar market rise-up which has now resumed bearish after a break-out. As a result of this, the sellers are gaining control of the market, aiming at near-by support. Currently, the token is trading<\/a> at around $0.026 level.<\/p>\n

TRX\/USD Market<\/h2>\n

Key Levels:<\/strong>
\nResistance levels: $0.028, $0.03
\nSupport levels: $0.024, $0.022<\/p>\n

From the medium-term chart, we can see the bullish cross above the important 50-day moving average (yellow band) as the buyers walk the market up to the $0.33 which later closed price at the $0.032.<\/p>\n

Having touched the above price level, TRX\/USD pair fell massively back to the base of the white ascending trend line, which has been supporting the market against a bear-run.<\/p>\n

\"\"<\/a><\/p>\n

After a week crawl, Tron market eventually plummeted below both the 50MA and the white line yesterday. A retest is actually playing out towards the break level of $0.028 resistance. A further rise might hit the $0.03 resistance.<\/p>\n

The next key support is $0.024 and $0.022. The RSI is already bearish below the 50 level. Similarly, the MACD is about to cross over to the negative zone.<\/p>\n

TRX\/BTC Market<\/h2>\n

Following the bearish sentiment, the TRX\/USD pair is yet to make a significant move above the important 50-day moving average (yellow line) as the market continues to maintain a downward position.<\/p>\n

This suggests that the bears are dominating the market. Meanwhile, the MACD is revealed in a decline. In fact, the signal is synonymous on the medium-term RSI which has made head towards the oversold condition.<\/p>\n

\"\"<\/a>
TRXBTC-4H-Chart-May-23<\/figcaption><\/figure>\n

Selling pressure may provide support at around the 315SAT level. Breaking this level may lead to a bearish continuation, finding next support around the 300 SAT. If the market reverses, however, we can expect a potential buying pressure at the 380 SAT resistance and above.<\/p>\n

However, there\u2019s a need for a surge to get the market out of the bear zone. The cryptocurrency follows a bearish scenario for now.<\/p>\n

Please note:<\/em><\/strong> insidebitcoins.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Tron (TRX) Price Analysis \u2013 May 23 The TRX market has been trending in the opposite direction since the Dollar market rise-up which has now […]<\/a><\/div>","protected":false},"author":1742,"featured_media":227524,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[8009,7992,8007,8290],"class_list":["post-227511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-price-prediction","tag-technical-analysis","tag-trxbtc","tag-trxusd"],"acf":[],"yoast_head":"\nTron Trading: TRX Bears Dominate Momentum, Pulling Price Towards Next Support<\/title>\n<meta name=\"description\" content=\"The TRX market has been trending in the opposite direction since the Dollar market rise-up which has now resumed bearish after a break-out.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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