TRXUSD is testing the 5-month Resistance following the December/ June aggressive rise.
Levels to watch:
- The Resistance is at 0.0235 the Support at 0.0121.
- A Golden Cross is about to take place on the 1D chart. Last time this happened on a top (February 1 2019) Tron turned sideways for almost 4 months.
- The RSI is printing a similar pattern to February 2019.
- That former consolidation found Support on the symmetrical top of the previous higher high.
Projection:
- This may be a cyclical pattern with the Golden Cross marking the top of a bullish leg and then lengthy consolidation until a new high is made. We are expecting a similar behavior.
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Levels to watch:
- The Resistance is at 0.0235 the Support at 0.0121.
- A Golden Cross is about to take place on the 1D chart. Last time this happened on a top (February 1 2019) Tron turned sideways for almost 4 months.
- The RSI is printing a similar pattern to February 2019.
- That former consolidation found Support on the symmetrical top of the previous higher high.
Projection:
- This may be a cyclical pattern with the Golden Cross marking the top of a bullish leg and then lengthy consolidation until a new high is made. We are expecting a similar behavior.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!