TRX Technical Analysis: Rounding Bottom Faces Bearish Pressure

TRX price action shows a bearish opposition near the rounding bottom’s neckline at $0.086 and delays the bullish breakout. Key technical points: The TRX market value deflated by 0.95% in the last 24 hours. Tron price action faces resistance at the $0.086. The 24-hour trading volume of Tron is $1.46 Million, indicating a fall of 9.57%. Past Performance of TRX TRX price action shows a rounding bottom pattern in the rising expanding channel after finding bullish support at $0.065 and the ascending trendline. The upside reversal comes with a boom in buying pressure resulting in the formation of a rounding bottom pattern with a neckline at $0.086. Source-Tradingview TRX Technical Analysis TRX price has declined by 3.96% with the new bearish candle forming due to the increased selling pressure. This lowers the chances of a bullish breakout, but the lower price rejection keeps the bullish hope standing. The trend reversal crossover in the MACD and Vortex indicators reflects a solid underlying bullishness ready to break above the overhead resistance at $0.086. However, the Stochastic RSI indicator shows a bearish crossover of the K and D lines representing a possible start of the bear cycle, driving the prices back to the support trendline. Hence, the technical indicators represent a solid underlying bullishness ready to overcome the selling pressure at $0.086 but the rejection delays the breakout. This could result in a cup and handl...