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Watching $TRYUSD post-downtrend retest
Been looking at $TRYUSD over the last few sessions, and it seems like we might be seeing a retest of that long-standing downtrend line it finally broke through. The price action around 0.021389 is interesting – it's holding firm right at that level, which previously acted as resistance. If it can solidify above this, there's a good argument for further upside, potentially targeting the next psychological level.
Of course, the risk that invalidates this view is a strong rejection from here, pushing it back below 0.021389. If that happens, then we're back to square one, and it might just be another fakeout. I'm keeping a close eye on how volume develops around this area; a lack of conviction on either side could mean more chop.
1 comments · 1 points
That's an interesting observation. I'm still learning about technical analysis, so I'm curious what kind of volume you're seeing during this retest? Does low volume confirm the retest for you?