<\/p>\n
*** *** The idea is on the 1D time-frame where\u00a0TRX<\/a>\u00a0broke today aggressively above its 1D MA50 (blue trend-line) which has been the medium-term Resistance since August 19 2022 and is headed towards the 1D MA200 (orange trend-line). This is currently exactly on the Lower Highs trend-line that started on the November 15 2021 High and is on the long-term the strongest Resistance at hand.<\/p>\n With the 1D RSI approaching the 70.000 overbought barrier, we should be expecting profit taking, at least on the 1D MA200\/ Nov Lower Highs Resistance cluster. A rejection there can pull\u00a0Tron<\/a>\u00a0back to at least the (grey) short-term Support Zone and if broken, aggressively towards the ultimate Support Zone of the Bear Cycle (0.04615 – 0.05100).<\/p>\n In order for us to call a buy extension on\u00a0TRXUSDT<\/a>, we want to see a candle closing above the 0.07250 Symmetrical Resistance, which as you see has previously rejected an uptrend 5 times since January 17 2022. A break above it, can target the upper Fibonacci levels towards the 0.0930 Resistance that was previously a Double Top (May 09 and June 01 2022).<\/p>\n Tradingview link:<\/p>\n
\nFor this particular analysis on\u00a0Tron<\/a>\u00a0we are using the\u00a0TRXUSDT<\/a>\u00a0symbol on the OKX exchange.
\n*** ***<\/strong><\/p>\n