Have you seen this?? TRX gains more than 11% in 24hrs
Screenshot from Coinmarket cap
Most investors after it has gained this momentum are afraid to invest because they think it might not rise again. But is that so?? In other to be able to determine or predict whether or not the price will still rise again I decided to use the knowledge I gained from the crypto academy. I launched my TRX chart on trading view, See screenshot of the chart.
Screenshot from TradingView
From the screenshot above, you will see that I clearly drew my support line and resistance line. I also added two indicators namely the RSI, two Moving average indicators, to help determine the direction of the asset. If you look closely at the chart at the support level a breakout occurs in an upward direction. This trend is can be confirmed with the moving average indicators as they are now moving below the asset ( which signifies an uptrend.)
So this is a clear sign that TRX will still rise in the next 24hrs. To make the analysis more correct, I added the RSI to tell me how strong the trend is. From the chart the RSI is over 71 which means we are in a strong bullish season.
At the time of writing this post the price of TRX is at $0.079. And I believe investors can still buy now and make profit. Pull backs are very common in charts of asset. TRX at some point will pull back a little and gain momentum and go even higher so I advise we should not panic and sell when we spot a pull back. Thank you for going through my post.
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Happy Eid to you too friends, I'm also monitoring the movement of the trx chart, I also see that the trx chart has gone up.
Yes. Per my analysis I still believe it uptrend will continue though the might be a little pull back but am very confident it will regain momentum.
I think investing in trx could be the best possible decison a trader could make. It is naking slow gains but as they say, if you are patient with the market it will surely reward you.
That’s very true bro. A lot of traders let their emotions get in the way which is not good.
You've got a free upvote from witness fuli.
Peace & Love!
Tron has really made a good move in the last 24hrs. I'm expecting it to be more bullish. I believe in Trx.
I have the same faith in TRX as you do. I think it’s about time investors paid more attention to investing in TRX.
This is indeed good news to all TRX lovers. If the market keeps pushing against the resistance which it has been doing (btc had a positive 5% diff) we could see TRX rise further.
I think you meant "should not panic and sell"?
Yah not panic and sell😅. Thanks for drawing my attention to that.
Gave a very good idea about Trx . I like it a lot. In fact, the price is increasing day by day. Very nice discussion about you. Good luck to you.
Thank you.
It has increased by 21% so far. I think there will be more growth in the future. Thank you.
I totally agree.
I definitely see more growth in the future.
This is a good news because despite the downtrend of the entire crypto market, we are still seeing some positivity on TRX.
This could be the effect of the yet to be launched USDD stable coin that is said will lead to a burn of about $98m worth of trx.
Thank you for sharing.
Yh you are right external factors also influence the trend of TRX.