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The post <a href="https://coinpedia.org/price-analysis/trx-price-retests-channel-break-a-dip-to-buy-or-wait/" rel="noopener noreferrer nofollow">TRX Price Retests Channel Break, A Dip To Buy Or Wait?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The TRX price continues the sideways trend as it consolidates despite the Bitcoin price falling 4.6% to the $36K mark. Surviving the sharp increase in supply pressure observed market-wide, Tron manages to sustain above the psychological mark of $0.10.
As the Tron price remains under a cooldown phase, the <a href="https://coinpedia.org/price-prediction/trx-tron-price-prediction/" rel="noopener noreferrer nofollow">TRX price prediction</a> predicts a prolonged uptrend continuation. Moreover, with the possibility of the overall market recovery with the Bitcoin Spot ETF approvals on the verge, the altcoins are ready to surge higher.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="480" src="https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-1024x480.png" alt="" class="wp-image-246019" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-1024x480.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-768x360.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-1536x720.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/17140630/TRXUSD_2023-11-17_12-47-19.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source- <a href="https://www.tradingview.com/x/Kj5PnD06/" rel="noopener noreferrer nofollow">TradingView</a>
Sustaining a bullish trend continuation, the TRX price showcases a 90% Year-to-Date growth as 2023 proves extremely profitable. As the Tron price gains momentum, the uptrend reclaims the $0.10 psychological mark.&nbsp;
Currently trading at $0.1033, TRX shows an intraday growth of 0.98%, forming a bullish candle. However, the price action analysis displays a consolidation phase in Tron prices as they retest the $0.10 mark.&nbsp;
The retest phase kicks in after the TRX price gives a rising channel breakout as the supply pressure increases at $0.112. Further, the recent trend shows a bullish engulfing candle struggling to gain momentum and ignite a post-retest reversal.&nbsp;
Technical Indicators: RSI Indicator: &nbsp;The daily RSI line dips from the bullish territory to cross under the overbought boundary and tease a drop to the halfway line.&nbsp;
EMA: The 50-day and 200-day continue to rise higher in a bullish alignment to support any shortcomings in trend momentum.&nbsp;
<h2 class="wp-block-heading" id="h-will-trx-price-reach-0-10">Will TRX Price Reach $0.10?</h2>
Surviving the market-wide pullback, the TRX price trend consolidates to retest the broken resistance trendline. Further, the buyers remain dominant over the psychological mark of $0.10 and project a high likelihood of a bullish reversal from $0.10. Sustaining the bullish momentum, the uptrend can reach the $0.125 mark.&nbsp;
Conversely, a reversal rally under the $0.10 mark can drive the prices down to the 50-day EMA at $0.0949.

TRX Price Retests Channel Break, A Dip To Buy Or Wait?

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