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Tron retests 2022 highs despite overall market slump

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TRX's was an outlier and bullish amidst the overall market slump. The breakout level could offer bulls a re-entry chance, but only if BTC crosses these levels.

Source: TRX/USDT on TradingView

But the recent price pump crossed the bearish OB and mounted above 2022 highs of $0.093. However, with muted BTC price action, the move above the bearish OB could be a liquidity hunt, as illustrated by the long candlestick wick. But if BTC drops below $29.5k, TRX could ease further to the ascending trendline support or 50% Fib level of $0.0794.

 

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