CandleFocus

Tron Price Analysis: Can TRX Reclaim $0.28 Soon?

The Tron (TRX) price has been experiencing bearish trends, but there is potential for a bullish reversal. The price has dropped by 16% over the past week and is currently testing the 100 EMA line. There are indicators of a potential morning star pattern, but the daily RSI line is close to the oversold boundary. The 20- and 50-day EMA lines also suggest a bearish crossover. If there is a reversal, the price may challenge the 23.6% Fibonacci level at $0.2826 and potentially reach $0.3272. However, a bearish continuation could push the price down to the 200-day EMA at $0.1934 and threaten the $0.20 psychological mark. The overall market sentiment is a bullish comeback for altcoins as Bitcoin resurfaces above $96K.

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