<strong><em>TRX price action shows a bearish opposition near the rounding bottom’s neckline at $0.086 and delays the bullish breakout.</em></strong>

Key technical points:
<ul>
 	<li>The TRX market value deflated by 0.95% in the last 24 hours.</li>
 	<li>Tron price action faces resistance at the $0.086.</li>
 	<li>The 24-hour trading volume of Tron is $1.46 Million, indicating a fall of 9.57%.</li>
</ul>
<h2><strong>Past Performance of TRX</strong></h2>
TRX price action shows a rounding bottom pattern in the rising expanding channel after finding bullish support at $0.065 and the ascending trendline. The upside reversal comes with a boom in buying pressure resulting in the formation of a rounding bottom pattern with a neckline at $0.086.

<img src="https://s3.tradingview.com/snapshots/r/rPO4uU5M.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/rPO4uU5M/">Tradingview</a>
<h2><strong>TRX Technical Analysis </strong></h2>
TRX price has declined by 3.96% with the new bearish candle forming due to the increased selling pressure. This lowers the chances of a bullish breakout, but the lower price rejection keeps the bullish hope standing.

The trend reversal crossover in the MACD and Vortex indicators reflects a solid underlying bullishness ready to break above the overhead resistance at $0.086. However, the Stochastic RSI indicator shows a bearish crossover of the K and D lines representing a possible start of the bear cycle, driving the prices back to the support trendline.

Hence, the technical indicators represent a solid underlying bullishness ready to overcome the selling pressure at $0.086 but the rejection delays the breakout. This could result in a cup and handle pattern shortly.

In short, the TRX technical analysis showcases a huge bullish breakout potential as buyers are ready to reach $0.10.
<h2><strong>Upcoming Trend</strong></h2>
With the greater chances of TRX market value exceeding $0.086 and reaching $0.10, traders can find an entry spot at the current market price. However, a failure to halt the downtrend will keep the price below $0.075; it will fall to $0.070.

<strong>Resistance Levels:</strong> $0.086 and $0.10

<strong>Support Levels:</strong> $0.075 and $0.070

TRX Technical Analysis: Rounding Bottom Faces Bearish Pressure

TRX price action shows a bearish opposition near the rounding bottom’s neckline at $0.086 and delays the bullish breakout.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

TRX Technical Analysis: Rounding Bottom Faces Bearish Pressure

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