Tron bullish momentum hit a wall short of $0.02, marking the end of the weekend rally. TRX/USD is likely to continue losing ground in the near term as seen with the retreating RSI. Tron has been on an upward roll in tandem with the rest of the cryptocurrency market. The weekend session proved to be a success to investors across the multiple cryptocurrencies and especially for major digital assets such as Bitcoin (BTC) and Ethereum (ETH). TRX/USD is currently trading at $0.0184 after its bullish momentum hit a wall at the 61.8% Fibonacci retracement level taken between the last drop from $0.0268 to a swing low at $0.0073. Besides, the Fibo resistance, Tron is also facing another key hurdle at the rising wedge pattern. If a breakout above this zone keeps delaying, there is a chance that TRX/USD will give in to the increased selling pressure and plunge massively. For now, technical signals are mainly negative with the MACD diving from the overbought. The formation of a rising wedge pattern means that losses will be of a larger margin especially if the confluence support formed by the 50% Fibo and the 50-day SMA is broken. In the meantime, buyers must take advantage of the MACD’s position above the midline to establish credible support above $0.0180. TRX/USD daily 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 Ethereum Classic Price analysis: ETC/USD faces strong resistance at $7.00 FX Street 3 years Tron bullish momentum hit a wall short of $0.02, marking the end of the weekend rally. TRX/USD is likely to continue losing ground in the near term as seen with the retreating RSI. Tron has been on an upward roll in tandem with the rest of the cryptocurrency market. The weekend session proved to be a success to investors across the multiple cryptocurrencies and especially for major digital assets such as Bitcoin (BTC) and Ethereum (ETH). TRX/USD is currently trading at $0.0184 after its bullish momentum hit a wall at the 61.8% Fibonacci retracement level taken between the last drop… 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.
