This website uses cookies to ensure you get the best experience on our website

Technical Analysis for TRXUSD for 24th November 2021

Tron Bulls Hold Steady Above a Multi-Week Support Line at $0.10



Past Performance of TRX

Overall, Tron has become one of the most active, highly-scalable layer-1. 

As a niche leader, TRX has utility, therefore, propping prices. 

Nonetheless, TRX has been under immense pressure in the past few days, shedding its value. 

Still, the TRXUSDT uptrend remains since the primary support trend lines seem to be the launching pad for optimistic bulls.


What to Expect of TRX

From the TRXUSDT performance in the daily chart, the uptrend is valid as long as the multi-week support trend line holds. 

Buyers will also have a chance if prices trend above $0.10. 

Thus far, the November 18 bear bar defines the short-term trend. A close above $0.11 may rejuvenate bulls targeting $0.12. 

Conversely, deeper losses confirming bear bars of November 16 and 18 may see TRXUSDT tumble to $0.08.


Tron Technical Analysis

From a top-down approach, TRX buyers are firm, soaking in selling pressure. 

The inability of bears to break below the support trend line is a net positive for bulls. 

Even so, Tron sellers are in the driving seat reading from the recent price action. 

This will, however, change if TRX prices surge above $0.11. 

Such a move would pad bulls, offering the momentum for another leg up above November highs at $0.12 in a buy trend continuation pattern.

Resistance level to watch: $0.11

Support level to watch: $0.10


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020