{"id":149886,"date":"2023-09-05T09:41:16","date_gmt":"2023-09-05T04:11:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149886"},"modified":"2023-09-05T09:41:16","modified_gmt":"2023-09-05T04:11:16","slug":"struggles-for-a-firm-direction-stuck-in-a-range-above-200-hour-sma-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/struggles-for-a-firm-direction-stuck-in-a-range-above-200-hour-sma-crypto-news\/","title":{"rendered":"Struggles for a firm direction, stuck in a range above 200-hour SMA &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/TRY extends its consolidative price move and remains confined in a range.<\/strong><\/li>\n<li><strong>The technical setup supports prospects for some meaningful appreciating move.<\/strong><\/li>\n<li><strong>A break below the ascending trend-line support will negate the positive outlook.<\/strong><\/li>\n<\/ul>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/usdtry\">USD\/TRY<\/a> pair struggles to capitalize on the overnight goodish rebound from the 26.15 area, or a four-day low and oscillates in a narrow band through the Asian session on Tuesday. Spot prices currently trade just above the 26.75 region, nearly unchanged for the day.<\/p>\n<p>From a technical perspective, the recent recovery from the 25.30 zone, or a nearly two-month low touched in August, has been along an upward-sloping sloping trend-line. Moreover, the USD\/TRY pair now seems to have found acceptance above the 200-houe Simple Moving Average (SMA), which, along with positive oscillators on daily\/hourly charts, supports prospects for some meaningful appreciating move.<\/p>\n<p>Hence, a subsequent move up, back towards reclaiming the 27.00 round-figure mark, looks like a distinct possibility. Some follow-through buying beyond the next relevant hurdle near the 27.25 region should allow the USD\/TRY pair to aim back to challenge the all-time high, around the 27.85-27.90 zone set in August. This is followed by the 28.00 mark, which if cleared will be seen as a fresh trigger for bullish traders.<\/p>\n<p>On the flip side, the 26.55-26.50 area, or the 200-hour SMA, could protect the immediate downside ahead of the aforementioned trend-line support, currently around the 26.35 region. The latter should act as a pivotal point, which if broken decisively might shift the bias in favour of bears. Some follow-through selling below the overnight swing low, around the 26.15 region, will reaffirm the negative outlook.<\/p>\n<p>The USD\/TRY pair might then turn vulnerable to weaken further below the 26.00 mark and accelerate the downfall towards the 25.70-25.65 intermediate support en route to mid-25.00s and the August monthly swing low, around the 25.30 region.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/TRY 1-hour chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638294826378435598.png\"><\/a><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/TRY extends its consolidative price move and remains confined in a range. The technical setup supports prospects for some meaningful appreciating move. A break below the ascending trend-line support will negate the positive outlook. The USD\/TRY pair struggles to capitalize on the overnight goodish rebound from the 26.15 area, or a four-day low and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,252,247,253,249,308,384,256,254],"class_list":["post-149886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdtry","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=149886"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149886\/revisions"}],"predecessor-version":[{"id":149887,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149886\/revisions\/149887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/15042"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}