TRXUSD breaks key support level
Moving lower for the 2nd day in a row, TRXUSD ended Saturday at 0.02230 losing $0.00137 (-5.79%). Today's closing price of 0.02230 marks the lowest close since December 15, 2017. Trading $0.00070 higher after the open, the cryptocurrency was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Friday's low at 0.02320, TRX confirms its breakout through the prior session's low having traded $0.00094 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Saturday's trading range was $0.00208 (8.8%), that's below last trading month's daily average range of $0.00297. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being exactly the same as average.
Breaking below the key support level at 0.02330 today, it is now likely to act as resistance going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Tron/USD Index
|Close to R1 Resistance||TQ Pro Members Only|
|Strong Up Move||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
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