Tron bearish leg from October’s high at $0.0230 extends towards $0.0160 short-term support area. TRX/USD is still in grave danger of retesting $0.0120 support despite defending falling channel support. The freshly renewed bearish wave on Monday was a blow to the much-anticipated bull rally ahead of the holiday season. Tron (TRX) was among the worst-hit coins by the acute selling pressure. The digital asset extended the bearish leg below the 50 SMA and the 100 SMA on the 4-hour chart. The retracement is part of a three-week retraction from the October high at $0.0230. The losses left a major trendline’s resistance in shambles as it explored the levels beneath the 38.2% Fibonacci level taken between the last wing high of $0.0230 to a swing low of $0.0137. Fortunately, descending channel support came in handy defending a potential fall below the next support at $0.0160. Tron is trading at $0.017 but the RSI is still confined in the oversold region. The 50 SMA also crossed below the 100 SMA at $0.0195 suggesting a lower consolidation for TRX. In the event selling pressure increases, and the channel support is broken, TRX is in danger of dropping retesting he support at $0.0120. TRX/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next US Pres. Trump: Told Powell the Fed Rate is set too high relative to the interest rates of other competitor countries FX Street 3 years Tron bearish leg from October's high at $0.0230 extends towards $0.0160 short-term support area. TRX/USD is still in grave danger of retesting $0.0120 support despite defending falling channel support. The freshly renewed bearish wave on Monday was a blow to the much-anticipated bull rally ahead of the holiday season. Tron (TRX) was among the worst-hit coins by the acute selling pressure. The digital asset extended the bearish leg below the 50 SMA and the 100 SMA on the 4-hour chart. The retracement is part of a three-week retraction from the October high at $0.0230. The losses left a major trendline's… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
