Tron (TRX) is currently trading at a price of around 0.063 in a higher sideways range. We have still not been able to leave this range since our last chart analysis, but have fallen below this range for a short time.
Although we could see a small bounce from the lower edge of the range in the last few days, it was not really supported by volume, which is why we have to assume a fakeout for now.
In this range we still have a small horizontal resistance at around USD 0.065. We have to impulsively break through this to the top so that we have any chance of reaching the upper end of the total resistance.
We see a similar picture on the daily chart. The range is stubborn and significant trading volume just isn't coming into the market. Also, we still have a huge wick to fill at around 0.052.
This was then brought with a lot of volume and also closed green. Conversely, this means that we have a lot of stop-loss longs here that we could still get.
This is a major uncertainty going forward as market makers typically fish for this volume and only then break out in the other direction to take as few traders as possible along the way.
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