BitMEX recently noted 32,200 Bitcoins withdrawn, nearly 19% of the exchange’s Bitcoin vault. However, BTC did not cede ground at $10,500, a development that was a sign of resilience and a maturing market. Tron‘s bulls have their work cut out for them as the longer-term bearish momentum stifled their attempts at recovery. Waves could also note another wave of selling pressure in the few hours. Further, Crypto.com Coin was bearish in the near-term and could be set to lose a level of support.
Tron [TRX]
Source: TRX/USDT on TradingView
The CMF showed that capital was flowing into the market, indicating that buying pressure outweighed the selling pressure. And yet, the OBV failed to register a higher high.
This could happen in the next few trading sessions as the price reclaimed the $0.026-level as support. A rise in OBV above the white line might suggest a breakout. However, it should be remembered that on the longer timeframe, TRX has been bearish.
Further local lows can’t yet be discounted, especially since the $0.03-level has not been tested
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