đTRON/USDT UPDATESâ
đ°The TRON (TRXUSDT) analysis update shows a bearish short-term trading bias, with the cryptocurrency trading below its 200-period moving average on the four-hour time frame . There is a possibility of temporary retracement to suggested support line (0.02780). The price is above the 21-Day WEMA, which acts as a dynamic support, and the RSI is at 47.
There is a glorious short opportunity with a 3-6X potential, due to the recent final upward push. The market recently broke and closed above the flag pattern, and the price has retraced approximately 38.2% of the preceding bullish move.
đ°Key Levels:đ
- Support: 0.02780
- Resistance: 0.1670
đ°Trade Ideas:đ
- Short-term: Temporary retracement to suggested support line (0.02780)
- Long-term: Pullback trade, with a target of resistance zone around 0.1670
đ°The broader digital currency ecosystem is recovering as the combined crypto market cap jumped by more than 2.35% to $2.04 trillion. Besides Bitcoin
BTCUSD
and Ethereum, among the major altcoin beneficiaries of this rally are XRP, Dogecoin
DOGEUSD
and Tron
TRXUSD
. With their rebound from weekly lows, the trio exhibits a defined correlation.
According to current market data, XRP has jumped by more than 1.5% in 24 hours to $0.5375. This has helped XRP pare off its weekly losses, which have now been trimmed down to 2.4%.
Please note that cryptocurrency investments carry risks and require thorough research â
