TRX-4h. Buyers have lost the trend line. What happens next?

13. Jan. 2021

The situation on the TRX market is very similar to that of EOS. For the second time, buyers are trying to break the mark of $0.0366 and receive an aggressive response from buyers.

The TRX price has been consolidating since September 2020. Active growth during August 2020 sent the price for the correction for six months.

The main accumulation zone of long positions is in the range of $0.0265-0.027. The fall in the price of TRX on January 10-11 on large volumes showed that buyers are ready to keep this range. However, the price went beyond the growth trend, which buyers formed from December 23.
Buyers are not actively trying to return the price, waiting for the reaction of BTC. Therefore, we cannot call this coin strong. Compared to XLM, TRX buyers are quite weak.

However, if the favorable situation in the crypto market continues (bitcoin will either grow or consolidate), the TRX market has every chance to shoot up. The first target is $0.036.

Alternative scenario. Breaking and fixing the TRX price mark of $0.0265 will return the TRX price back to the liquid consolidation zone. This fact will reduce the chance of growth in the near future. And increase the chances of continuing a sharp drop in the price of TRX to $0.22:

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