TRX Breaks Down Below The Symmetrical Triangle Pattern
The weekly technical chart of TRX highlights a positive trend built by the coin with modest price corrections in between. A sudden spike in price movements can be seen from Jan 3, 2021. A symmetrical triangle continuation pattern is formed on Tuesday's trading session. TRX successfully broke down that pattern for a downward movement with the resistance zone placed at $0.0293 and the following support zone of $0.0264.
The Moving Average Convergence Divergence (MACD) had a crossover signal line indicating a selling signal in the coin. The histogram also started to form a few massive red bars after the crossover.
Meanwhile, the Commodity Channel Index (CCI) with a value of -72.00 indicates that the coin is in a downtrend and in an oversold region. It formed a descending parallel channel from 189.00 to -72.00
The Moving Average Convergence Divergence (MACD) had a crossover signal line indicating a selling signal in the coin. The histogram also started to form a few massive red bars after the crossover.
Meanwhile, the Commodity Channel Index (CCI) with a value of -72.00 indicates that the coin is in a downtrend and in an oversold region. It formed a descending parallel channel from 189.00 to -72.00
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