The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
As a result, the altcoin was on its way up to retest the $0.0709-$0.072 range in the coming sessions. A potential reversal could be lurking around the corner should the bulls fail to ramp up the declining volume trend. The 200 EMA supported the pennant’s short-term decline and propelled morning star candlesticks that aided TRX in breaking out of the bullish pattern.
In such a case, the trendline support near the 20 EMA around the $0.069-mark could cushion retracements.The Relative Strength Index jumped above the 61-level while projecting a clear bullish edge. The buyers should look for a potential reversal from the overbought region before taking a short position.
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