[Technical Analysis] TRX/USD Market February 01, 2024

in Account Booster 👍 • 10 months ago

Hey Guys..!!

Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

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Alright, let's get straight into the discussion, Happy reading!!

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Tron (TRX) Analysis

Today, February 01, 2024, I will try to analyze the price movement of Tron technically.

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SOURCE: TradingView

If we look at the price movement of TRX in general, we can see that TRX is in a very deep bearish phase. We can see this in the pattern of TRX price movements in the chart above where the candlestick tends to move downwards if we look closely.

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SOURCE: TradingView

This is also confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

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SOURCE: TradingView

The ADX Indicator also shows there is a Death Cross that occurs in the ADX indicator.

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SOURCE: TradingView

Negative sentiment is also shown by the RSI indicator where the RSI line has moved at the bottom.

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Disclaimer:

This analysis is not an invitation to buy or sell any asset, it is just a short analysis intended for learning. Remember! don't use the analysis I did as a benchmark in investing or trading, always do your analysis and research first before making any decisions.

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#cryptocurrency #trx #tron #technical-analysis #chart
10 months ago in Account Booster 👍 by
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  • Past Payouts $2.00, 0.00 TRX
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     10 months ago 

    Upvoted! Thank you for supporting witness @jswit.

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