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crypto analysis

08/08 11:47

TRON rebounds from the $0.32 support zone, poised

TRON rebounds from the $0.32 support zone, poised to push higher

TRON has a bullish market structure on the 1-day chart. The local swing highs and lows were marked in white.

On the 29th of July, the token broke past a local high, marking a bullish structure shift. The price then retraced to the $0.32 demand zone, where it found support.

The volume bars showed decent trading volume in July, generally above the 20-day moving average. Additionally, the CMF remained above +0.05 to reflect sizeable buying pressure on TRX.

The MFI slipped below 50, but it did not show strong bearishness yet. It appeared likely that TRON would rally higher, given its bullish structure and heavy buying.1000164076

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