This week's performance of TRX has me a bit restless.
If TRX drops below 0.35, what’s your game plan?
Hold your horses before answering. Let’s take a look at what went down this week—
TRX has been quite interesting this week. It's down 2.1% in the last 24 hours, but up 1.7% over the past 7 days. To put it simply, we're in a consolidation phase—both bulls and bears are lackluster, and neither side wants to make the first move.
The overall market is still shaken to its core. The Fear and Greed index is sitting at 22—extreme fear, with an average at just 27. TRX is pretty much moving in sync with the market, showing no signs of independent action. In times like these, don’t expect it to shoot up independently, nor should you anticipate a crash.
From a mid-term perspective, TRX is still 15.3% away from its peak, but it’s gained 12.6% over the last 30 days. The recovery trend is ongoing, albeit at a snail's pace.
However, there’s one signal to watch—volume is way too low. Everyone's sitting on the sidelines, hesitant to pull the trigger. It’s like two fighters in a ring, neither wanting to throw the first punch, just stalling.
Last week, I mentioned that TRX would oscillate in the 0.35-0.38 range, and looking back, that was pretty spot on. But I didn’t expect it to drag on like this; I thought there would be a directional choice.
Next week, keep an eye on two key factors: whether volume can pick up and how the direction plays out. Support is at 0.35826, resistance is at 0.381337. If it breaks down, don’t hold on too tightly; if it breaks through, consider riding the wave.
Honestly, TRX is still in a recovery phase, no need to panic, but don’t get too complacent either. Manage your positions carefully and keep some dry powder.
What do you think, folks? How will TRX move this week?
A. Continue consolidating, stay on the sidelines
B. Volume breakout, shifting upward
C. Break support, deep correction
#TRX #Web
If TRX drops below 0.35, what’s your game plan?
Hold your horses before answering. Let’s take a look at what went down this week—
TRX has been quite interesting this week. It's down 2.1% in the last 24 hours, but up 1.7% over the past 7 days. To put it simply, we're in a consolidation phase—both bulls and bears are lackluster, and neither side wants to make the first move.
The overall market is still shaken to its core. The Fear and Greed index is sitting at 22—extreme fear, with an average at just 27. TRX is pretty much moving in sync with the market, showing no signs of independent action. In times like these, don’t expect it to shoot up independently, nor should you anticipate a crash.
From a mid-term perspective, TRX is still 15.3% away from its peak, but it’s gained 12.6% over the last 30 days. The recovery trend is ongoing, albeit at a snail's pace.
However, there’s one signal to watch—volume is way too low. Everyone's sitting on the sidelines, hesitant to pull the trigger. It’s like two fighters in a ring, neither wanting to throw the first punch, just stalling.
Last week, I mentioned that TRX would oscillate in the 0.35-0.38 range, and looking back, that was pretty spot on. But I didn’t expect it to drag on like this; I thought there would be a directional choice.
Next week, keep an eye on two key factors: whether volume can pick up and how the direction plays out. Support is at 0.35826, resistance is at 0.381337. If it breaks down, don’t hold on too tightly; if it breaks through, consider riding the wave.
Honestly, TRX is still in a recovery phase, no need to panic, but don’t get too complacent either. Manage your positions carefully and keep some dry powder.
What do you think, folks? How will TRX move this week?
A. Continue consolidating, stay on the sidelines
B. Volume breakout, shifting upward
C. Break support, deep correction
#TRX #Web