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TRON – ALTCOIN CHART ANALYSIS

 


Tron (TRX) has been in a sideways phase/range between USD 0.06 – 0.07 for almost two months now. The trading margin is therefore relatively small and so is the trading volume.


We are currently trading at around USD 0.06 and are therefore at the lower end of this range. Recently we had a small pump to around USD 0.068, which was quickly sold off again.


On the 4H chart, this pump is now the short term target as we have built a lot of volume here. This stands for the opening of short positions, which is why we could still get them.


On the daily chart, we also see little significant change, so we focus on the volume, where it's found, and possibly infer where it might be headed.


Two volume peaks in particular catch the eye here. The lower one at around USD 0.045, which was formed in mid-June 2022, stands out here in particular because we were bought up very impulsively here.


The second is in the $0.09 area. However, it is unlikely that we will get this one first. The market environment is too bearish for this. Which is why the chances are higher that we could move in this area if the range breaks.

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