TRON TRX Price Action Analysis | 10% To @tron-fan-club

Hello and welcome to episode 27 of TA (Technical Analysis) Today we are diving into The TRON TRX Token!

TRX is one of my favourite tokens and being an investor myself, I keep an eye on the price action of this token and have shared my analysis on it with you earlier as well. The last few weeks have not been good for most cryptocurrencies, but you may be surprised to know that the TRX token has held itself relatively well even during these stressful times.

If you read my analysis, you must have seen this chart shown above in my previous analysis as well. And by looking at the extended price action, you can understand how beautifully the price has held itself so far.

In the below screenshot, I have simply extended the lower grey support area, which shows that the price is still holding above a key sell-off zone while most cryptocurrencies are in a persistent selling environment.

However, here you can also see a structure of lower highs which shows the pressure of sellers from the higher level. Meaning, from here you can see 0.25 as the first resistance on the upside, after which the price will have to make a bullish close above 0.28 for continuation.

A good support is expected to form around 0.22 but a bearish close precisely below 0.215 can cause a big weakness in this token. Only time will tell what will happen but this is one of those few tokens that can really make you rich and the most important thing needed for that is patience.

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My analysis, trade plans, or any sentence written in my blog is not intended to be any kind of investment advice. Please do your own analysis before making any investment. Thank You!

10% rewards of this post will go to Tron Fan Club (@tron-fan-club)