What signals does the technical analysis reveal about the continuous decline of TRX?

[Coin World] TRX's recent performance is not very optimistic. It has slid from the high of $0.2961 in November all the way down to $0.276, falling 6.6%. At this rate, the next stop may be to look for support around $0.264-$0.269, and if luck isn't on our side, $0.245 is also a possibility.

From a technical perspective, the selling pressure is indeed quite obvious. The OBV indicator has been continuously declining, indicating that funds are flowing out; the DMI has also lit up red, showing a clear downtrend. However, there is always a chance for a turnaround in the market—if the price can retrace to the two key Fibonacci retracement levels of $0.2717 or $0.245, we might see a rebound.

Of course, the premise is that it shouldn't fall below the 0.30 USD line. Once it breaks, the current analysis logic has to be completely reset. In the short term, it does seem bearish, but the key levels still need to be closely monitored, as there might be a surprise.