TRX Technical Analysis: Will Buyers Close Above $0.070?

TRX prices show a formidable selling pressure above the $0.70 zone pushing the bullish growth under. So should you expect a bullish favored closing today? Key technical points: TRX prices struggle to sustain above the $0.070 mark. The MACD indicator shows a bullish trend continuation. The 24-hour trading volume of Tron is $1.65 Billion, marking a 6% fall.  Past Performance of TRX TRX coin price struggles to sustain above the $0.070 resistance zone and the 200-day EMA, coinciding with the resistance zone. After failing miserable yesterday, the buyers are recreating a positive candle but face higher price rejection lowering the chances of a bullish favored closing.  Source-Tradingview TRX Technical Analysis  The higher price rejection in the daily candle projects a bearish closing under the resistance zone. However, the bullish growth undermines the possibility of an evening star pattern and projects a potential rally.  The crucial daily EMAs maintain a falling trend in a bearish alignment, but the spread between the 50 and 100-day EMA continues to lower. Hence, the chances of a bullish crossover are increasing significantly.  The RSI slope suggests an upwards trend towards the midline, suggesting an increase in purchasing power. In addition, the 14-day average line indicates an uptrend above the mid-point line. The MACD and the signal line are continuing to keep an upward trend following an equilateral cross in the direction of bullish and moving into the positive zone. The bullish histograms demonstrate an unbroken trend moving. In short, the TRX technical analysis forecasts a high likelihood of uptrend continuation below the $0.070 mark. Upcoming Trend  The overall bullish influence on the upcoming trend suggests a greater likelihood of a bull run extending to the $0.077 mark. Furthermore, a prolonged buying pressure above $0.077 could result in an upward move towards the psychological threshold of the $0.10 mark. Resistance Levels: $0.077 and $0.1 Support Levels: $0.70 and $0.63

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