Technical Analysis for TRXUSD for 25th April 2023
Tron is Bullish but Pinned Below $0.0675 After Dropping 8%
Past Performance of TRX
Tron Technical Analysis
TRX is bound in a tight consolidation zone with clear resistance and support levels. Buyers of Q1 2023, as mentioned earlier, remain in control. The rejection of lower prices in recent trading sessions is a huge positive for the coin. However, for buyers to be aligned with the primary trend from mid-March, there must be a high-volume break above $0.0675 to confirm buyers of mid-March 2023. TRX may float to $0.073, or February 2023 highs in that case.
What to Expect from TRX
TRX rose nearly 45% in Q1 2023 but is down 8% from peaks, supporting the preview that buyers are in control. Still, there must be a clear breakout from the current consolidation. If not, deeper corrections below the last week's lows may see TRX crash to $0.055.
Resistance level to watch: $0.0675
Support level to watch: $0.0645
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