TRON’s coin retreated from the recent recovery high. TRX/USD is confined to a long-term downside trend. At the time of writing, TRX/USD is changing hands at $0.0160. The coin has gained over 15% in seven 24 days, however, the upside momentum started fading away after the price had hit $0.0175 high. Currently, TRON takes 11th place in the global cryptocurrency market rating with the market value of $1.1 billion and an average daily trading value of $638 million. TRX/USD, the technical picture Looking technically, TRX/USD has created a lower high at $0.0175 moving within the long-term bearish trend from June, 2019 high at $0.0400. The coin has lost about 60% from the peak and hit the bottom at $0.0117. Despite the recovery, the price failed to reach the previous recovery high at $0.0186 (September 21), which may be interpreted as a bearish signal. The initial support is created by SMA50 (Simple Moving Average) on a daily chart at $0.0156. A sustainable move below this handle will allow for an extended correction towards the short-term upside trendline coupled with the lower line of one-day Bollinger Band at $0.0147. Once it is out of the way, the sell-off is likely to gain traction with the next focus on $0.0140. On the upside, We will need to see a sustainable move $0.0175 to negate an immediate bearish forecast and create a precondition for further recovery. 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 Forex News Today: Daily Trading News share Read Next USD/JPY: Corrective rebound – Commerzbank FX Street 4 years TRON's coin retreated from the recent recovery high. TRX/USD is confined to a long-term downside trend. At the time of writing, TRX/USD is changing hands at $0.0160. The coin has gained over 15% in seven 24 days, however, the upside momentum started fading away after the price had hit $0.0175 high. Currently, TRON takes 11th place in the global cryptocurrency market rating with the market value of $1.1 billion and an average daily trading value of $638 million. TRX/USD, the technical picture Looking technically, TRX/USD has created a lower high at $0.0175 moving within the long-term bearish trend from June,… 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.