XRP, Tron, Synthetix Market Analysis for 25th January 2021

XRP developed a bullish reversal trend and was poised to challenge the $0.3 resistance mark over the next few days. Tron displayed an upbeat momentum when the previous sales spate seemed to have stopped. Synthetix rose to $17.7 from $14 and could hit $20 in the coming days.

XRP

XRP formed a descending, expanding wedge and climbed over a trend with an above-average trading volume. This trend projects an XRP target of $0.31, with a high resistance level of $0.3.

The Chaikin Money Flow was above 0 to indicate net capital inflows to the market, while the A/D indicator has started to grow in the last few days.

A dip back to $0.272 is possible, but another dip is likely to invalidate the setup. Retesting the $0.26 mark would mean a short-term bearish power.

Tron [TRX]

Over the past week of bearish pressure, TRX finds support at the $0.027 horizontal support range, as well as at the 4:1 Gann fan line, to rebound to the $0.032 resistance level.

The RSI rose above neutral 50 and retested it as support for an uptrend in growth. At the time of publication, the Stochastic RSI was in overcrowded terrain, even though the RSI was climbing. This does not mean an imminent pullback, but there is a risk of rejection again at the $0.032 mark.

This will see TRX revisit the $0.03 help area.

Synthetix [SNX]

SNX turned $14 to support after a dip to assess the $11.2 level of support. Since flipping $14, SNX has risen past the $16.5-$16.8 area that was supposed to give some resistance.

The Amazing Oscillator displayed a strong bullish momentum, although the trading volume was also considerably higher in the last few trading sessions. These elements, taken together, pointed at a high investor conviction that could bring SNX to $20.78 in the coming days.

The Directional Movement Index also saw the ADX (yellow) rise past 20 to show a clear trend. The +DI (blue) revealed the bullish essence of the pattern.