TRX Technical Analysis: Trendline Breakout Rally Challenges $0.065

The TRX Technical Analysis shows a bullish breakout of a long-coming resistance trendline unleashing the trapped momentum and challenging sellers at $0.065. The TRX price action showed a bullish breakout of a bearish trendline, with a 3% jump today, resulting in a bullish candle. However, the increase in selling pressure at $0.065 causes a higher price rejection to keep the bullish growth in check. So, will Tron prices break above the $0.065 mark? Key Points: The Tron price action shows a bullish breakout entry opportunity. The price jump challenges the 100-day EMA. The intraday trading volume in Tron is $499 million. Source – TradingView TRX Technical Analysis The TRX price action shows a bullish recovery rally from $0.058 after a long-term downtrend under the influence of a resistance trendline. The bull run accounts for a price jump of 10% in the last two weeks. However, the price breakout rally struggles to exceed the overhead resistance level of $0.065, leading to a higher rejection in the daily candle. Moreover, the 100-day EMA breakout rally reverses and approaches the 50-day EMA. Therefore, questions about the bullish trend sustaining in the daily chart are rising, while some expect it as a retest of the broken trendline. If the selling pressure grows over the day, the Tron market price will drop below the broken trendline and the 50-day EMA at $0.0619. In such a case, sideline traders can take a bearish position with ...