TRON Price Analysis: TRX/USD has had some strong intraday selling volume
- TRON is trading -2.78% lower even as wider crypto sentiment remains firm.
- There was a large chunk of selling volume at around 4pm GMT.
TRX/USD 1-Hour Chart
TRON has been performing well over the last week but the sellers have come in on Friday.
Maybe this is profit taking but it did happen at a good resistance zone on the daily chart.
Looking at the hourly chart below, 0.02377 was the sell-off point this afternoon.
Then at 0.0225 a large amount of selling volume came in to take the price lower.
Fortunately for the bulls the selling stopped close to the 50 SMA and now hold near 0.02186.
If the selling continues it will be interesting to see what happens at the psychological 0.02000 level.
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Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
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