TRX Technical Analysis: Reversal Brings Cup And Handle Breakout

TRX price shows a bullish reversal from $0.80, resulting in the $0.086 level breakout and a cup and handle pattern. Will the breakout rally reach $0.10? Key technical points: The TRX market value increased by 9.54% in the last 24 hours. Price action shows a rounding bottom breakout. The 24-hour trading volume of Tron is $1.294 Billion, indicating a hike of 35.70%. Past Performance of TRX TRX prices showcased a sharp V-shaped reversal from the $0.080 mark resulting in the $0.086 and the cup and handle pattern breakout. In our previous article, we mentioned the possibility of a reversal from $0.080 leading to the cup and handle pattern. The 10% reversal completes the pattern, with the 5.79% bullish engulfing candle being the one to break the neckline at $0.086. Source- Tradingview TRX Technical Analysis The cup and handle breakout rally generally soar as much as the depth of the cup pattern, which in this case might push the TRX price above $0.10. Therefore, traders can find breakout entry opportunities at the current market price. The Daily Moving Averages – 20, 100, and 200-days are ready to regain a bullish alignment as the 20 and 200 DMA are prepared for a crossover after the recent golden crossover. Hence, the MEAs reflect a significant rise in the underlying bullishness. The RSI indicator displays the slope sustaining in the nearly overbought zone with the support of the 14-day SMA and approaches the 70% border. Furthermor...