Technical Analysis for TRXUSD for 15th October 2021
Tron's USDT Activity Spikes, Will this Lift TRX above $0.10?
Past Performance of TRX
At the time of writing, TRX prices are flat versus the greenback.
All the same, buyers appear to be in control though capped below $0.10—a critical liquidation line.
What to Expect of TRX
Technically, TRX/USDT candlestick arrangement points to strength from a top-down approach.
However, in the short term, there are signs of weakness.
Specifically, TRX prices are consolidating below $0.10—a notable liquidation line and October 2021 highs.
On the lower end, prices have support at $0.09. A close below this mark may force TRX towards September 2021 lows of $0.08.
Tron Technical Analysis
Despite the consolidation in the daily chart, Tron buyers have the upper hand.
While aggressive TRX traders may load the dips, a close above $0.10 may provide more reassurance for optimistic traders.
If a high volume close prints, thrusting the coin above October 2021 highs, TRX may surge back to $0.12 and September 2021 highs in a buy resumption pattern.
Conversely, deeper losses below $0.09 may see the coin tumble towards $0.08, mirroring losses of September 2021.
Resistance level to watch: $0.10
Support level to watch: $0.08
Disclaimer: Opinions expressed are not investment advice. Do your research.
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