Tron dropped as low as $ 0.027 two weeks ago but recovered steadily as the bulls in the market recovered the significant $ 0.03 level from the bears. VeChain created an ascending triangle pattern.
Tron (TRX) price analysis
The most recent trading session for TRX tested and passed the 38.2% Fibonacci retracement level at $ 0.032, but selling pressure pulled the price back below this level.
The MACD looks neutral behind TRX, and the price has remained between $ 0.03 and $ 0.032 over the past few days.
A rapprochement outside both limits is required for the next move, and an even more upside can be expected as the $ 0.03 level was recently taken back by the market’s bulls.
If TRX rises above $ 0.032, retests as support, and moves up once again over the next few days, it could be a situation that could trigger the opening of long positions.
VeChain (VET) price analysis
There is persistent selling pressure in the $ 0.018 zone for VET. The price formed an ascending triangle pattern on the charts, a pattern that often sees an upward breakout.
A close outside the triangle will show the next direction for the market. At the time of writing, the RSI is around 50. Closing below $ 0.0168 could result in both the RSI and the price falling.
A strong move, supported by good trading volume, will best indicate the direction of a breakout and transactions can be done according to this approval.