TRXUSDT is facing renewed selling pressure after a sharp reversal disrupted its previous bullish structure on the daily chart.
The recent price spike initially suggested strong buying interest, but the rally quickly collapsed as sellers took control. More importantly, price has broken below both the ascending trendline and a key support zone, signaling a significant shift in market momentum.
What stands out is the weakness of the recovery following this breakdown. Buyers have struggled to reclaim the broken support, suggesting that the former demand zone is now acting as resistance.
I expect any short-term rebound toward this area to face renewed selling pressure. As long as TRX remains below the broken structure, I favor further downside toward 0.3000.
The recent price spike initially suggested strong buying interest, but the rally quickly collapsed as sellers took control. More importantly, price has broken below both the ascending trendline and a key support zone, signaling a significant shift in market momentum.
What stands out is the weakness of the recovery following this breakdown. Buyers have struggled to reclaim the broken support, suggesting that the former demand zone is now acting as resistance.
I expect any short-term rebound toward this area to face renewed selling pressure. As long as TRX remains below the broken structure, I favor further downside toward 0.3000.
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🚀 SMART CRYPTO TRADING STARTS HERE!
BTC • ETH • ALTCOINS
🎯 Daily Signals | Entry • TP • SL
⚡ Real-Time Alerts & Market Insights
💎 VIP Signals & Private Support
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BTC • ETH • ALTCOINS
🎯 Daily Signals | Entry • TP • SL
⚡ Real-Time Alerts & Market Insights
💎 VIP Signals & Private Support
🔥 TRADE SMARTER. STAY AHEAD.
👇 JOIN OUR COMMUNITY
t.me/+22Cs-Z14bJg3NDJl
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.