Tron Price Action: TRX Moves Back Below Key Level Amid Bearish Market Movements

2019-1-28 18:19

Tron Daily Chart – Source: Tradingview.com

After several tests last week, Tron made a move above a key resistance level at $0.028.

$0.028 to $0.031 was a key area of consolidation for Tron during bearish market drops in August, and the price quickly found liquidity and moved to $0.036 the last time it entered the area.

Bearish movements hit the crypto market today with many top cryptocurrencies such as market leader Bitcoin are moving below key support levels.

These bearish movements have also have taken their toll on Tron moving the price back below $0.028.

Tron 4-Hour Chart – Source: Tradingview.com

Price has since started to move back up but is meeting resistance at $0.028.

During the bullish movements of last week, the price had continued to increase until it met resistance at $0.031.

Despite moving back below $0.028, the chart pattern is bullish for Tron with higher highs and higher lows forming on the daily.

Tron is also outperforming the majority of top cryptocurrencies during this drop.

Data from Messari show depreciation of 4.28% over the past 24 hours.

In the top ten cryptocurrencies, Bitcoin is the only one which has held its value better – depreciating just 3.46% over the past 24 hours.

Key Takeaways: Tron drops back below key level at $0.028 and is now meeting resistance at this point as it rises back up. A bullish pattern is nonetheless forming on the daily with price recording a series of higher highs and higher lows. Tron is the top performer in the top ten during this drop with the exception of market leader Bitcoin. Latest Tron News:

Tron Price Action – TRX Continues Bullish Movements with Higher High

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DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Tron Price Action: TRX Moves Back Below Key Level Amid Bearish Market Movements was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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tron bearish key level market price movements

Источник: blokt.com

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