Tron dipped as far south as $ 0.027 two weeks ago, but has improved since posting steady gains as market bulls regained the important $ 0.03 level of market bears. Aave faced a ceiling around the $ 94 mark and VeChain formed an ascending triangle pattern that could see a bullish cut.
The latest trading session for TRX tested the 38.2% Fibonacci level at $ 0.032 and pushed past it, but sales pressure forced the price back below the level.
The MACD it noted a neutral momentum behind TRX, with the price spent the past few days held in a range between $ 0.03 and $ 0.032.
The next step needs to be closed outside either border, and as market bulls have recently regained the $ 0.03 level, there could be further upside on the cards.
This scenario could play out with TRX charging past $ 0.032, rebranding it as support, and picking up once again over the next few days, something that could be the catalyst for opening long positions.
Aave has been on a steady improvement lately, having seen healthy downsides from the $ 94 resistance all the way to the $ 74- support. In fact, he was recently denied the $ 94 resistance once again.
The OBV it showed that purchase volume was increasing over the past week, even as AAVE failed to break the above resistance level. This was a bullish signal for the price. And yet, no higher peaks have been set since early November, something that highlighted a potential shortfall of buyers.
Timing is extremely important when trading the markets. Based on the evidence at hand, a safe option would be to open a long position when $ 94 is flipped to support or wait for a 4-hour or longer time frame bearish diversion to develop before scalp nearing that level of resistance.
Above $ 94, only the $ 100 psychological resistance level exists.
Ongoing sales pressure around the region has been $ 0.018 for VET. The price formed an ascending triangle pattern on the charts, a pattern that usually breaks out upside down.
Closing outside the triangle would indicate the next direction for the market. At the time of writing, the RSI was around 50. Closing below $ 0.0168 could see both RSI and the price plummeting.
A strong move complemented by a good trading volume would best indicate the direction of the cut, and trades can be placed based on this confirmation.