TRX $0.2-$0.25 USD locked – short term insights

Post Fed rate cuts, in-general market sentiment has been mixed. Following the announcement, Bitcoin saw an inflow during the week from Sept. 15 to Sept. 21, totaling $321 million and BTC USD price has grown by $60K level to now at $63.4k.

What it means for TRX:

Live TRX price as of this writing is $0.153 USD. TRX USD price has changed by 0.66% since yesterday. It is currently trading ▼-0.13% from its 7-day all-time high price of $0.153 USD and ▲2.62% up from its 7-day all-time low of $0.149 USD.

With 86,662,758,705 TRX coins in circulation, TRX market cap is $13.1 Billion USD.

TRX price rebounded from 61.8% of Fib retracement level (Fib levels from swing low of $0.11 to high of $0.17), suggesting uptrend (bullish wave) for TRX is still intact.

TRX price in the latest sessions has been trading in parallel channels as shown in below screenshot. The resistance in short-term cycle lies near $0.1547 USD. If TRX USD price crosses the resistance zone, a strong upward momentum would start, first target: $0.17 USD, followed by $0.20-$0.25 USD.

Click here for Live TRX USD price chart today.

TRX USD price Tech indicators:

• TRX RSI value in the 4Hr candlestick interval is 66.72, above the key RSI 50 level.
• TRX SMA(100) value in the 4Hr time interval is 0.15 USD, above key SMA(100) level. This signals in-general bullish sentiment for the TRX short-term price momentum.
• Note that, TRX SMA(50) price is below the SMA(200) price in the 4Hr candlestick interval. If the TRX completes the bullish crossover (SMA 50 above SMA 200), a strong new wave of TRX price upward trend will start.

https://preview.redd.it/mr7j0obb1kqd1.png?width=1117&format=png&auto=webp&s=3bbe1c4bda0bbad6d14eb245778894c2c64c0736