TRX Crypto Price Faces Downward Pressure as Technical Indicators Lean Bearish

In recent trading sessions on the 4-hour chart, the #TRX crypto price has shown subtle movements, with closing figures tapering slightly from $0.12561 to $0.12506. This minor downtrend is coupled with critical technical indicators that suggest a potentially bearish outlook in the short term.

The 9 Exponential Moving Average (EMA) and 20 EMA have both decreased gradually, indicating a softening momentum. The most recent readings show the 9 EMA at $0.12562 and the 20 EMA at $0.12585, both of which have been consistently above the closing prices, signaling a bearish crossover scenario. This is further supported by the Moving Average Convergence Divergence (MACD) values, which illustrate a narrowing gap between the MACD line and the signal line, with the histogram values remaining negative across the latest data points.

The Relative Strength Index (RSI), which helps gauge the overall market sentiment and the strength of price movements, has hovered below the midpoint of 50 in recent sessions, marking a value of 43.17. This is indicative of a bearish sentiment as it suggests that the selling pressure has been slightly more pronounced than buying momentum.

Regarding the support and resistance levels, $TRX faces immediate resistance at $0.1267, with further hurdles at $0.12713 and $0.12738. These levels must be breached with significant buying volume for a shift to a bullish perspective. Conversely, the support levels to watch are $0.12505 and $0.12456, with a crucial psychological and technical support at $0.12208. A break below these could intensify selling pressure, leading to further declines. #write2earn🌐💹 #TrendingInvestments #BullorBear The full analysis and trade strategy were originally posted on ecoinimist.com.