TRON is currently showcasing strong bullish momentum, sitting atop an ascending trendline with signs of a potential breakout above the bear pennant formation. Here’s the breakdown:
Current Buy Zones:
1. FOMO Entry: From CMP (0.2111) if you’re bullish and expect a quick breakout.
2. Ideal Buy Zone: Between 0.206 to 0.203, offering better risk-to-reward as it aligns with the lower trendline and strong support zones.
Bullish Setup:
• Pattern: A bear pennant forming on top of an established uptrend often results in a breakout to the upside. TRON is respecting the ascending supports, indicating buyers are defending key levels.
• Volume Profile: Volume is building near the pennant, signaling the possibility of aggressive movement soon.
• EMAs (Exponential Moving Averages): Price is comfortably above the EMAs, with the 7EMA acting as immediate support.
Targets:
1. First Target: 0.22543 – This is the breakout projection of the pennant and a major resistance area.
2. Second Targets:
• 0.245 – A potential consolidation level if momentum persists.
• 0.31 – A stretch target if TRON gains strong bullish traction, aligning with historical levels of interest.
Risk Management:
• Stop Loss: Below 0.203 to protect from invalidation of the bullish thesis.
• A breakdown below 0.203 could signal weakness and negate this setup.
Current Buy Zones:
1. FOMO Entry: From CMP (0.2111) if you’re bullish and expect a quick breakout.
2. Ideal Buy Zone: Between 0.206 to 0.203, offering better risk-to-reward as it aligns with the lower trendline and strong support zones.
Bullish Setup:
• Pattern: A bear pennant forming on top of an established uptrend often results in a breakout to the upside. TRON is respecting the ascending supports, indicating buyers are defending key levels.
• Volume Profile: Volume is building near the pennant, signaling the possibility of aggressive movement soon.
• EMAs (Exponential Moving Averages): Price is comfortably above the EMAs, with the 7EMA acting as immediate support.
Targets:
1. First Target: 0.22543 – This is the breakout projection of the pennant and a major resistance area.
2. Second Targets:
• 0.245 – A potential consolidation level if momentum persists.
• 0.31 – A stretch target if TRON gains strong bullish traction, aligning with historical levels of interest.
Risk Management:
• Stop Loss: Below 0.203 to protect from invalidation of the bullish thesis.
• A breakdown below 0.203 could signal weakness and negate this setup.
Trade closed: target reached
Reached!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Official Telegram Channel : @mastaishere | 〽️agic Begins 🪄 with 〽️astaCrypta! |
Accuracy and Precision?? - I just doodle and that's it 🪄
Join 〽️astaTrades & The Alchemy Syndicate ™ 🔮 Today!
The 〽️agic happens here: @MastaCryp
Accuracy and Precision?? - I just doodle and that's it 🪄
Join 〽️astaTrades & The Alchemy Syndicate ™ 🔮 Today!
The 〽️agic happens here: @MastaCryp
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.