Despite Tron’s impressive network traction, TRX’s price performance could stall near $0.073 unless BTC traverses this path …
surpassed Tron on daily transactions as of press time, showing that the former was making more revenue.TRX price prediction: Can bulls clear this obstacle?Despite the 60% rally after the FTX saga and early Q1 2023, TRX stalled at $0.073. At press time, the recovery seen in mid-March, rising from $0.05500, has hit the $0.73 level again.
This makes it a sticky multi-month hurdle that can either make or break the TRX’s uptrend momentum seen at press time. However, if the sticky hurdle thwarts bulls’ efforts, TRX could correct and drop to the 78.6% Fibonacci retracement level . But the drop could steady at the dynamic EMAs. A breach below the EMAs will signal a significantly weakening market structure.
However, the bullish breakout scenario could be delayed or nullified if BTC falters amidst ongoing US debt ceiling negotiations. Such a development could tip the scale in favor of bears, TRX sinking to the 78.6% Fib level , or a weekly forecast of $0.06 could become a reality.Unlike TRX’s July/August 2022 trading volumes, press time levels remain muted at around 205 million TRXs. Besides the spike during the FTX fallout, TRX’s volume has remained below 500 million.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Litecoin Price Prediction – LTC’s 2019 halving and its lessons for 2023Litecoin's halving is set to happen in August. Will LTC's price action follow in the footsteps of the trends we saw in 2019?
Read more »
Coyotes prospect Logan Cooley to return to University of Minnesota for sophomore seasonThe Coyotes originally selected Cooley with the No. 3 overall pick in the 2022 NHL Draft.
Read more »
Spotlight: Glencore’s Sudbury INO recognized for safety excellenceNickel Rim South Mine wins CIM’s 2022 John T Ryan National safety award
Read more »
After man collapses in gym, off-duty first responders jump into actionJason Wang collapsed during a CrossFit event at a gym in southeast Calgary in May 2022
Read more »
Citizen exclusive: Premier weighs in on northern B.C. overdose crisisThe Northern Health region had the highest rate of overdose deaths per capita in 2022.
Read more »
2022 was worst year on record for assaults on the TTC, Globe analysis showsSafety concerns have risen after a series of high-profile incidents, including four people who were killed in altercations
Read more »