TRX/USDT:- Anticipating Correction towards Key Support Levels ?In this technical analysis, we delve into the price action of TRX/USDT, examining crucial resistance and support levels to decipher potential market movements.
Resistance Area - 0.07800 - 0.07850
TRX/USDT has encountered a substantial resistance area at 0.07800 - 0.07850. This zone has historically posed as a formidable barrier halting upward price momentum.
Anticipated Price Correction - 0.07100 - 0.07200
The potential correction is projected to lead the pair towards the support zone ranging from 0.07100 to 0.07200. This area holds significance due to its historical role as both a support and consolidation zone.
Bearish Order Block Analysis - 0.07800 - 0.07850
Presently, TRX/USDT finds itself trading within a bearish order block, precisely coinciding with the resistance area at 0.07800 - 0.07850. This bearish order block signifies a cluster of price levels where selling pressure has outweighed buying activity.
The alignment of this bearish order block with the resistance further strengthens the expectation of a downward movement.
Stay informed, stay cautious, and keep a keen eye on the evolving market trends.
