Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
- TRX sustained the recovery that started in mid-August.
- Open Interest rates improved in September as buyers gained control.
Tron [TRX] has sustained its recovery, allowing it to regain lost ground after the mid-August dump. TRX dropped 8% in the first half of August after dropping from $0.0787 to $0.0719. But the altcoin was up >9% at press time, trading at $0.079 and recovering all August losses.
Is your portfolio green? Check out the TRX Profit Calculator
Can the recovery edge higher?
The white area of $0.076 – $0.078 has seen a key price reaction since July. It was flipped to support at press time as bulls sustained the recovery. Besides, the price action mounted above the 50-EMA (Exponential Moving Average), flipping the H12 market structure to a bullish bias.
Technical indicators reinforced the bullish bias at press time. The RSI stayed above the 50 mark in September but faced rejection near the overbought zone. It shows buying pressure surged in September but eased slightly at press time.
Over the same period, the CMF hovered above zero, demonstrating impressive capital inflows into TRX markets.
To the north, the next resistance levels exist at $0.080 and the bearish order block (OB) of $0.0826 – $0.0858 (red).
Southwards, the key supports to consider are the 50-EMA, $0.076 and $0.074.
Open Interest rates improved
Go to Source to See Full Article
Author: Benjamin Njiri
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
