$TRX
🚨 TRON Price Analysis: Needs to Flip Key Level 🚨
The 12-hour chart shows that the TRX price has been in a slow uptrend since March. It has formed an ascending channel, comprising of a series of higher highs and higher lows.
TRON’S Bollinger Bands have been highly squeezed of late, while the accumulation and distribution indicator has moved up slightly. This could be a sign that it has been in the accumulation phase of the Wyckoff Theory.
The accumulation is then followed by the markup, characterized by higher demand than supply and higher price. This view will be confirmed if it moves above the upper side of the rising channel at around $0.3.
A drop below the lower side of the channel at $0.25 will invalidate the bullish TRX price forecast and point to more downside, potentially to $0.2100, the lowest point on March 16 this year.