According to RSI, the momentum index has dropped below the 14 SMA and currently holding below 50, which indicates bears are still in the dominating position.<\/p>\n\n\n\n
Furthermore, The number of transactions taking place on the network drastically decreased. Data from TRONSCAN shows<\/a> that the volume of daily network transactions dropped from 7.5 to 6.3 million during the past two weeks.<\/p>\n\n\n\n We\u2019ll remain bearish with TRON until the price exceeds the current resistance at $0.0576. Also, our downside target will remain at the long-term support near $0.04522 as long as the price holds below the immediate dynamic resistance at 50 EMA.<\/p>\n","post_title":"TRON (TRX) Intends To Rejoin The Long-Term Downtrend And Return To The Recent Market Low At $0.04522 \u2013 TRON Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"tron-trx-intends-to-rejoin-the-long-term-downtrend-and-return-to-the-recent-market-low-at-0-04522-tron-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:52","post_modified_gmt":"2023-04-10 07:58:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8896","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The price has already broken the dynamic support at 50 EMA. Besides, the 21 EMA maintains below the 50 EMA, suggesting a bearish crossover.<\/p>\n\n\n\n According to RSI, the momentum index has dropped below the 14 SMA and currently holding below 50, which indicates bears are still in the dominating position.<\/p>\n\n\n\n Furthermore, The number of transactions taking place on the network drastically decreased. Data from TRONSCAN shows<\/a> that the volume of daily network transactions dropped from 7.5 to 6.3 million during the past two weeks.<\/p>\n\n\n\n We\u2019ll remain bearish with TRON until the price exceeds the current resistance at $0.0576. Also, our downside target will remain at the long-term support near $0.04522 as long as the price holds below the immediate dynamic resistance at 50 EMA.<\/p>\n","post_title":"TRON (TRX) Intends To Rejoin The Long-Term Downtrend And Return To The Recent Market Low At $0.04522 \u2013 TRON Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"tron-trx-intends-to-rejoin-the-long-term-downtrend-and-return-to-the-recent-market-low-at-0-04522-tron-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:52","post_modified_gmt":"2023-04-10 07:58:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8896","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Although the price maintained a bullish momentum since it rebounded from the support at $0.04522. However, the momentum weakened after the price got rejected at the immediate resistance ($0.0576).<\/p>\n\n\n\n The price has already broken the dynamic support at 50 EMA. Besides, the 21 EMA maintains below the 50 EMA, suggesting a bearish crossover.<\/p>\n\n\n\n According to RSI, the momentum index has dropped below the 14 SMA and currently holding below 50, which indicates bears are still in the dominating position.<\/p>\n\n\n\n Furthermore, The number of transactions taking place on the network drastically decreased. Data from TRONSCAN shows<\/a> that the volume of daily network transactions dropped from 7.5 to 6.3 million during the past two weeks.<\/p>\n\n\n\n We\u2019ll remain bearish with TRON until the price exceeds the current resistance at $0.0576. Also, our downside target will remain at the long-term support near $0.04522 as long as the price holds below the immediate dynamic resistance at 50 EMA.<\/p>\n","post_title":"TRON (TRX) Intends To Rejoin The Long-Term Downtrend And Return To The Recent Market Low At $0.04522 \u2013 TRON Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"tron-trx-intends-to-rejoin-the-long-term-downtrend-and-return-to-the-recent-market-low-at-0-04522-tron-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:58:52","post_modified_gmt":"2023-04-10 07:58:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8896","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
TRX tried to exceed the $0.0650 level several times but got strongly denied by the resistance on November 9th that kept the price under the long-term downtrend.<\/p>\n\n\n\n Although the price maintained a bullish momentum since it rebounded from the support at $0.04522. However, the momentum weakened after the price got rejected at the immediate resistance ($0.0576).<\/p>\n\n\n\n The price has already broken the dynamic support at 50 EMA. Besides, the 21 EMA maintains below the 50 EMA, suggesting a bearish crossover.<\/p>\n\n\n\n According to RSI, the momentum index has dropped below the 14 SMA and currently holding below 50, which indicates bears are still in the dominating position.<\/p>\n\n\n\n