1
JAby u/jakubkovalenko·1dAnalysis

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

1 Comments

TOu/tor·1d

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?

1

More like this