Future

Bitcoin

Coin

<p style="text-align: justify">Amidst the ongoing Israel-Hamas conflict, a crypto turbulent process is taking place. The decline in the price of <a href="https://coin-turk.com/bitcoin-fiyati-neden-dusuyor-likidasyonlar-ve-kurumsal-etki" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/ted-cruz-bitcoins-rising-role-in-the-texas-economy/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> continues to affect other altcoins. However, one of the altcoins closely followed by crypto investors, <strong><a href="https://coin-turk.com/justin-sun-ve-vitalik-buterin-yine-karsi-karsiya-geldi" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/trons-trx-to-leverage-bittorrent-bridge-on-ethereum-blockchain/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tron</a></strong> (<a href="https://coin-turk.com/justin-sun-canli-yayin-platformunu-satin-aldi" data-wpel-link="internal" rel="noopener noreferrer nofollow">TRX</a>), has been able to maintain its support level at $0.085 since October 6.</p>
<p style="text-align: justify">In the analysis of TRX price on October 10, it was observed that the support level at $0.085, which was established at the beginning of October, did not hinder the bulls’ expectation of gains. During this process, the bulls may have bigger targets. Bulls defending the support at $0.085 are hopeful that a possible <a href="https://en.coin-turk.com/crypto-analyst-anticipates-record-breaking-surge-for-bitcoin-by-year-end/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> recovery will push the price higher.</p>
<h2 style="text-align: justify" id="trx-coin-reviews">TRX Coin Reviews</h2>
<p style="text-align: justify">As of the time of writing, a neutral trend was observed in the daily price chart. Despite the decrease in RSI, the level at 50 indicates to investors that the pressure on buying and selling has been equal since October 9.</p>
<p style="text-align: justify">Additionally, there has been a decrease in capital inflows since the beginning of September. The fact that CMF is above zero is perceived positively by investors. RSI and CMF indicators indicate that bulls can defend $0.085 and target higher levels, such as $0.08970 or $0.0944.</p>
<p style="text-align: justify">However, the long-term decline in demand for TRX in the spot market, as indicated by the decrease in OBV, may delay investors in terms of price increase. As a result, if the downward pressure on price continues and there is a decrease in demand, TRX may retrace to $0.080.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-265599" src="https://coin-turk.com/wp-content/uploads/2023/10/trx-usdt-1.jpg" alt="" width="782" height="404"></p>
<h2 style="text-align: justify" id="future-of-trx-price">Future of TRX Price</h2>
<p style="text-align: justify">According to Coinglass’ weekly liquidity indicator, significant liquidity is seen at $0.0875 and $0.90, as indicated by the long bars in TRX’s chart. The situation represented by the long bars can be defined as high-risk liquidation zones.</p>
<p style="text-align: justify">Price increases generally reflect strong reactions in liquidity areas. Therefore, TRX may reach $0.0875 or even $0.09. However, there has been a negative movement in the Futures market volume and Open Interest rates. As of the time of writing, they had experienced a decrease of 5% and 4% respectively. This indicates that a recovery at the $0.085 level may not happen as quickly as anticipated.</p>
<p><img decoding="async" class="aligncenter size-full wp-image-265598" src="https://coin-turk.com/wp-content/uploads/2023/10/trx-usdt-2.jpg" alt="" width="777" height="361"></p>
<div class="sorumluluk_reddi"><strong>Disclaimer:</strong> The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry risks due to their high volatility and should conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/trx-coin-analysis-of-price-movements-and-future-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/trx-coin-analysis-of-price-movements-and-future-predictions/</a>

TRX Coin: Analysis of Price Movements and Future Predictions

Table of Contents

COINTURK NEWS

Other articles published on Oct 11, 2023

Cardano Bounces As Altcoin Stagnates Above $0.245

Bitfinex’s Parent Company iFinex Announces $150 Million Share Buyback to Protect Hack Victims and...

Bitcoin: Is It Too Late To Become a BTC Millionaire?

Shiba Inu Beats Cardano & Solana As Popular Altcoin in 2023

Exploring FCA’s new crypto promotion rules and their implications

Nigeria’s Central Bank: The eNaira poses no risk to the country’s financial stability

Join our free newsletter for daily crypto updates!