TRON (TRX) Fails to Close Above Major Resistance

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In Brief
  • TRX/USD is facing long-term resistance and support at $0.04 and $0.024, respectively.

  • The price has broken down from a short-term ascending support line.

  • TRX/BTC is facing resistance and support at 450 and 300 satoshis, respectively.

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Despite its increase during the marketwide crash of Sept 2-4, the TRON (TRX) price was rejected at an important resistance area and has lost the majority of its gains made during the previous week. During the week of Aug 31-Sept 6, the majority of the cryptocurrency market decreased considerably. TRX was one of the few that moved in the opposite direction, at one point having increased

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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