VeChain, THETA, Tron Price Movement Analysis for 23rd May, 2021

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Moving on, VeChain’s technicals indicated any additional losses for the crypto-asset. THETA wanted to reclaim the region over $7.34 in order to rebound quickly. Finally, Tron can find support at $0.0622.

VeChain [VET]

VeChain failed to recover from $0.096 help and saw yet another breakdown on its 4-hour map. There was some resistance near $0.0856, but VET’s technicals did not support a bullish response. According to the Chaikin Money Flow, VET could struggle in the coming sessions due to heavy capital outflows. The only reason for hope was the RSI’s oversold state, which called for a turnaround. Even in such a case, the RSI will most likely stay below 45.

The purchasing volume increases, the price can rise above $0.096. Maintaining this support could result in a bullish outcome in the coming days.



Source: THETA/USD, TradingView

THETA momentarily regained the area above $6.46 as buyers returned to the market. A buy zone existed about $5.4, and a bullish reaction could be anticipated if THETA bounced back from this stage. A increase over $7.34 and the 20-SMA (red) will almost definitely enable THETA to rebound quicker than any other alts.

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A bearish result, on the other hand, will illustrate support levels at $3.93 and $2.53. The choppy action of OBV shows periods of buying pressure followed by periods of selling pressure, but sellers will definitely come out on top given bearish cues from market leaders.


Tron [TRX]

Source: TRX/USD, TradingView

During the initial sell-off on May 19, a single candlewick on Tron fell as low as $0.050, the lowest amount since March. Despite the fact that TRX rose by more than 20% during the rapid buy time on May 22, failure to break above $0.0926 and the 20-SMA (red) resulted in another surge of selling pressure. The second wave was persistent, resulting in a 30% retracement to TRX’s press time price of $0.064. Any sideways movement is possible at the $0.0622 support level, and a turnaround could make for gains up to the 20-SMA. If the selling pressure does not abate, losses could extend all the way to $0.050.

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An ADX reading of more than 60 showed that the economy was in trouble. In contrast, the RSI jumped into the oversold range, suggesting that a leap above this level was possible. TRX will be able to thin out any of its gains as a result of this.

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