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crypto analysis

08/08 11:50

TRX balances on key level as momentum cools

TRX balances on key level as momentum cools

On the 4-hour chart, the MFI reflected muted momentum over the past couple of days. Most importantly, the 50-period moving average continued to act as support.

Its confluence with the $0.32 demand zone meant that a bullish TRX reaction could be expected over the weekend.

A price drop below $0.32 would be the first sign of short-term bearishness, which swing traders should be aware of.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion1000164077

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