Can TRON mount a recovery as it finds support at $0.066 - Aliens: AI Crypto News & Markets Updates

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Can TRON mount a recovery as it finds support at $0.066

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AMB Crypto

Sat, Jan 15, 2022

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Aliens TLDR

Above the $0.069 resistance level, TRON did not face too much resistance on the low timeframes.

Over the next week, if Bitcoin could find some bullish momentum, TRON could also follow and move as high as $0.076 and $0.0779.

Since that time, Bitcoin has bounced from the $40k level to $44k, and TRON rode on the coattails of the market leader’s momentum and registered a higher high at $0.0685.

This, as well as the longer-term resistance level at $0.06913, posed were the levels that TRX would need to close above in order to begin to shift the short-term sentiment to bullish.

It was also trading at a high volume node, which meant that the $0.068-$0.069 area would pose some resistance on the way up for TRX.

However, the OBV has been in a longer-term downtrend, a reflection of the steady selling TRX has seen in recent weeks.

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