TRON TRX Price Action Analysis! | 10% To @tron-fan-club
Hello and welcome to episode 25 of TA (Technical Analysis) Today we are diving into The TRON TRX Token!
The recent big fall in crypto created panic in big tokens as well. While in the stock market, especially the Indian stock market, a fall of 5-7% creates panic, in the crypto market, buying and selling of 10-15% is a common thing, but sometimes it extends to 25-50% and we saw something similar in the recent panic, but the superb thing was that the sellers could not hold the lower levels for long and due to the dominance of buyers, a good recovery in prices was also seen.
On the chart of the TRX token above, you are seeing the drawings that I showed you in my last analysis blog. To be honest, I have invested in many tokens in the last few weeks, but I have not seen any other token with as much sustainable price movement as the TRX token has.
Even during the recent big depression, the TRX token has so far sustained itself above important levels. This is a good sign not only for trading mindsets but also for investing mindsets because in any asset you need confidence for your capital protection and when a token respects important levels then you can make better trade plans.
I already have a position in the token near 0.24 and the bullish closing near the support gives me more confidence in my investment although I was not able to track it during that panic fall otherwise I would have definitely done dip buying near those lower levels. But now there is no point in doing that because that panic has been recovered and now it is possible that the price consolidates here or once again goes down from here to the previous low, so it would be better to keep an eye on the price action patiently because not all the time is for trading, sometimes one should stay calm and analyze the price action only.
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