Tron (TRX) and EOS Technical Analysis: Bears Doubling Down

Tron (TRX)

Tron, the layer-1 smart contracting platform, uses TRX as the primary currency.

Past Performance of TRX

The Tron coin price is under significant selling pressure, reading from the TRX technical analysis in the daily chart. Overall, the path of the least resistance remains southwards as Tron token sellers double down.

Tron Technical Analysis

After an exemplary performance in early H2 2021, TRXUSDT prices peaked in mid-Q3 2021 before tumbling in the better part of Q4 2021. Thus far, the TRX crypto price is bearish, trending below the middle BB—the flexible resistance line.

As such, every retracement higher towards the 20-day moving average might offer entries for sellers expecting more losses below $0.075. From the TRX coin candlestick arrangement in the daily chart, prices might plunge to $0.065—the 78.6 percent Fibonacci retracement line of the H2 2021 trade range.

Day-Ahead and What to Expect

Tron sellers have the upper hand, reading from the daily chart price action. Therefore, while TRX coin buyers may be hopeful, there could be more losses should prices slip below $0.075. On the flip side, buyers may offer support once a recovery is above $0.085.

EOS

EOS, the high throughput dPoS blockchain, uses EOS as the main currency.

Past Performance of EOS

The EOS coin price is bearish, trending within a bear breakout pattern as per the EOS technical analysis in the daily chart.

EOS Technical Analysis

EOSUSDT candlestick arrangement points to sellers. Although EOS coin traders might be bullish, the failure of buyers to clear $3.5 swings price action to favor sellers. Thus, every low above the immediate resistance line at $3.5 may be entries for aggressive EOS currency traders targeting at December 4 lows at around $2.4. Meanwhile, EOS bulls may take back control once there is a strong bull bar with high trading volumes driving prices above the resistance line at $3.5 to November 2021 trade range.

Day-Ahead and What to Expect

The December 28 and 29 bear bar set the motion for EOSUSDT. Since prices are now aligned with the December 4 bear candlestick, the probability of EOS posting more losses is heightened. It would mainly be the case once prices slide below $2.9—this week's lows.