The TRXBTC bearishness continues as price pushes yet again to new lower lows. The most recent bear flag (orange) could be broke in today’s price action after yesterday’s daily candle signaled indecision, the downtrend “party” might not be over as yet.
I expect, TRX price will test the 100-day moving average in the next few weeks. Yesterday, the token was unable to break out above the resistance line and had retreated, and trading below the 50-Day EMA.
The RSI is near the 50 level a sign of indecision. The MACD is still below the zero level. If the MACD turns down through its 9-month moving average, it will be a sell sign.
I expect, TRX price will test the 100-day moving average in the next few weeks. Yesterday, the token was unable to break out above the resistance line and had retreated, and trading below the 50-Day EMA.
The RSI is near the 50 level a sign of indecision. The MACD is still below the zero level. If the MACD turns down through its 9-month moving average, it will be a sell sign.
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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.