- Tron was hit quite badly in the crypto sell off a few days ago.
- Now TRX/USD is nearing a significant low of 0.011100.
Tron is a pretty volatile cryptocurrency. On the day of the sell-off, TRX/USD lost just over 20% of its value.
In the days leading up to the sell-off the volume was very low along with the volatility.
Now the price is testing the low seen in November last year, a historical low on the Bitfinex exchange.
On the relative strength indicator (RSI) the waves have made a higher low and the price has made a lower low. This is called divergence and is an indication that the bearish momentum might be slowing down.
The trend is still heavily bearish so keep an eye on confirmation before trading in the opposite direction.
Lastly, the value area (VPOC) is near 0.025000 some 86% away so if there is a retracement there could be some alpha to be had.
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