Tron (TRXUSD) is looking for a rising bottom - Analysis - 07-11-2024 $TRX

The price of Tron (TRXUSD) has fallen during its recent trading at the moment levels, amid the occurrence of negative signals on the relative strength indicators, despite reaching areas of severe saturation with selling operations, so the price is trying to search for a rising bottom to take as a base that may help it gain the necessary positive momentum to regain its recovery, in light of the dominance of the main upward trend in the medium term and its trading along the trend line, relying on this decline to support its simple moving average for the previous 50-day period.

Therefore, we still expect the return of the currency price to rise during its upcoming trading, targeting the pivotal resistance level 0.16906346, as long as the support level 0.15514276 remains stable.