Analyze graphs: Tron is going to make it before the end of this week
Source:
The Second half of December brought some relief to investors — the stock market turned green again, and they had hope at least for a short bullrun. In this situation, displayed well — cryptocurrency is still holding above the major support line and is not going to fall.
TRX Around also gathered a lot of positive news. This month the number of transactions in the network, the coins reached a new record value, and the transfer fees dropped to almost zero. At the moment, Tron is trading at 0,019 dollar. For the past day, the cryptocurrency fell 4.2 percent.
theTechnical analysis
Scale 1-hour chart price TRX slowly but surely rises up after the last serious drain. Judging by the current levels of the local uptrend, the cryptocurrency stretched from 0.016 to 0.019 dollar. The nearest support level is located on the line 0,0150 dollar, while resistance is in the area 0,0239 dollar.
Source: AMBCrypto
The Technical indicator Chaikin Money Flow has recently risen above the zero line, indicating that the beginning of a bullish trend. In other words, now in TRX invested more money than output. RSI does not give accurate picture of the situation. The indicator is closer to the oversold zone, but hasn't fully entered it.
Scale 1-daily chart Tron is still in a strong downward motion during which the asset has fallen from 0,3890 to 0,01320 dollar. Since mid-December it is possible to observe a rebound and a possible option of forming a local uptrend.
Source: AMBCrypto
So, what action to take traders in the near future? According to the testimony of technical indicators, the market is heavily oversold. Bullrun probability higher than the probability of a new fall. That is why we recommend to open long positions (zone 0,0180-0,0190 dollars) with a stop loss below 5% from your entry price in the market.
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