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Crypto Express

08/07 08:05

TRX Impact of profit-taking on price



However, Tron;s price action could be set for short-term price drop following the spike in profit-taking activity.

TRX has been trading way above its 52-week low and was approaching $0.42. This move has been running since the low of $0.20 in early February.

The MACD was appearing to react to the holder activity, as the strength had slightly shifted to bears.

Fortunately, all was not lost, as the Stochastic RSI hinted that sellers were getting exhausted after a period of locking gains. The metric, at 40, was approaching the neutral value.

TRX could thus face a short-term price correction before resuming its upward trajectory.
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