TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?
August 19 2022 - 3:04PM
NEWSBTC
The price of Trezor (TRB) in the last few days has continued to
look strong against Tether (USDT). Bitcoin (BTC), Ethereum (ETH),
and other altcoins have struggled to hold above their key support
zones after the market turned bearish. The price of Trezor
(TRB) has continued to maintain its bullish structure. (Data
from Binance) Related Reading: Bitcoin Price Short-Term Upswing In
Peril As Bulls’ Aggression Dies Down Trezor (TRB) Price Analysis On
The Weekly Chart From the chart, the price of TRB saw a weekly low
of $10, which bounced from that area and rallied to a price of $40
after showing great recovery signs in recent weeks. TRB
weekly candle closed with a bullish sentiment with the new week’s
candle looking bullish with eyes set for the $60 mark. The
price has struggled to build more momentum as it tries to hold key
support. If the price of TRB on the weekly chart continues with
this structure, it could quickly revisit $60 acting as a
resistance to the price of TRB. Weekly resistance for the price of
TRB – $40, $60. Weekly support for the price of TRB – $28. Price Of
Trezor On The Daily (1D) Chart The price of TRB found strong
support at $28 above a trendline after successfully forming a
bullish structure, the support at $28 seems to be an area of
interest on the daily chart. TRB bounced from its support and
rallied to $40 where it was faced with resistance. The price of TRB
has formed an uptrend line acting as a support for the price of
TRB. The price of TRB needs to hold above this trendline, a
break below it invalidates the bullish structure. At the point of
writing, the price of TRB is at $40, just above the 50 and 200
Exponential Moving Average (EMA) which corresponds to prices at $28
and $24. The Relative Strength Index (RSI) for the price of TRB on
the daily chart is below 70, indicating more buy bids. Daily (1D)
resistance for TRB price – $40. Daily (1D) support for TRB price –
$28, $24. Price Analysis Of TRB On The Four-Hourly (4H) Chart The
price of TRB has continued to sustain its bullish structure above
the 50 EMA price corresponding to $38 acting as support and area of
interest. On the 4H timeframe, the 200 EMA is also acting as key
support for the price of TRB. If TRB fails to hold the support
region of 50 and 200 EMA which corresponds to $38 and 30$ we could
see the price retesting the region of $21 as the next support area
to hold the TRB price. Four-Hourly (4H) resistance for TRB price –
$40. Four-Hourly (4H) support for TRB price – $38, $30. Related
Reading: Bitcoin Price Declines Below 50-Day MA, Is A Recovery
Expected? Featured Image From ITPRO, Charts from TradingView.com
TRON (COIN:TRXUSD)
Historical Stock Chart
From Aug 2024 to Sep 2024
TRON (COIN:TRXUSD)
Historical Stock Chart
From Sep 2023 to Sep 2024