💲$TRX #TRXUpdate 🤑

The current momentum of TRX/USDT (TRON against Tether) shows a bearish trend in the short term, based on technical indicators. Here's a summary:

1. Current Price and Range: TRX/USDT is trading around $0.1636, with a narrow 24-hour range between $0.1635 and $0.1657. This reflects a consolidation phase with no clear directional bias.

2. Technical Indicators:

Moving Averages: The 5-day and 10-day moving averages are trending downward, signaling bearish momentum.

MACD: The negative MACD indicates a weakening trend with bearish momentum increasing.

RSI: The RSI is at 40, which leans bearish but is not yet oversold. This suggests there may be room for further downside.

3. Support and Resistance Levels:

Support is near $0.1551, which could act as a critical level to watch for further drops.

Resistance is at $0.1657, and breaking above this could indicate a potential bullish reversal.

4. Outlook: The short-term outlook remains bearish, with no strong signs of reversal. Traders should monitor volume trends and key levels closely to assess potential trend changes.