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TRX - The Outlier - Time For A Mega Short?Ah, Tronix. Yes, it's actually called "Tronix", not "Tron." The coin with the disappearing wallet. No joke, I made a wallet back in early 2019 for TRX and stored the private key. I like to do things the old fashioned way, so I wrote it down and double-checked it by logging in. The second time Iogged in, I got the notification, "this wallet doesn't exist." Since then, I've been pretty wary of this project. I could go into all sorts of conspiracy theories about Justin Sun, CZ, Binance, stablecoins......but I'll leave that to your imagination. This is a purely technical setup. TRX is one of the few coins that has maintained higher support levels during this bloodbath. What's up with that? As far as I understand, TRX is burned to help keep the Tron stablecoin USDD pegged to the dollar. USDT recently moved away from the Tron network. Anomalies like this don't usually last long in the crypto market. I'm speculating that this breaks down massively. There's already buzz that TRX will be the next LUNA, but before I say it's going to zero, let's just look at horizontal supports. If TRX cannot hold the 200 MA on the 3 day (teal), and if it cannot hold that orange uptrend, I think it can fall 50% pretty quickly, much like other alts during this period. On the bullish side, TRX will need to break and hold above the 200 day MA (teal in the below chart) The 200 week MA lingers just below, at the 4 cents level. Now, the question is - does TRX test the 50 week MA near 8 cents one more time before dumping? Let's find out. This is not meant as financial advice. This post is highly speculative, and is meant for entertainment :) -Victor Cobra
Short
by VictorCobra
4
TRX - The Outlier, Part 2This is just a quick follow-up post to my short idea on Tronix from May. Here is the original post. I ultimately got stopped out of the first trade and failed to catch the nearly 50% drop. Despite dropping below the uptrend, TRX rebounded much better than the rest of the crypto market, and remains one of the only coins still above its bull market support. It's been doing better than both Bitcoin and Ethereum for months. So, what's going on? Without going into too much detail, the price of TRX is being inflated due to burning mechanisms and its algorithmic stablecoin USDD. Does it deserve its current valuation? Is Justin Sun truly a genius who has engineered the perfect, stable asset? My bet is that this is not the case. I'm scaling into a short again - entries are marked at the green levels on the lefthand chart, which shows short-term price action. Short term targets are in red, while longer term short targets are shown on the righthand chart (3 day). It might take some time for this to break down, during which TRX can again get into the mid-7 cents zone. This is especially the case if markets are to rally for another 2-3 months. This is why my stop is fairly tight here, and I'm just trying to catch a wave down. Let's see! Invalidation will be if TRX can break and hold above that triangle resistance on the 3 day chart. This is not meant as financial advice. This is meant for speculation and entertainment only. -Victor Cobra
Short
by VictorCobra
1
Ton of resistance, Elliott wave analysisIf you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! The level at 7.50 looks might strong. With this current swift move down back below the level, I am looking to HOW the price reacts to that level if it is reached again. If it come to it in a corrective fashion, then I would suspect a rejection. If it can get back above, then I would have to reconsider, based out what PA has printed. The divergence adds to this. Trade Safe! Trade Clarity!
Short
by CryptoKnee
Not Dropped, Is it going to stop?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Could not break above the level identified, and it played as resistance before the drop. With the sweep of the low, it could lead to lower lows. I am keeping an eye on these levels, here and below the current PA, for support. If it heads down to them, I will be watching for a reaction off of the levels in conjunction with other confluences. If its going to turn up from here, the same levels could be key. I would want to see a break above and a flip to support. Trade Safe! Trade Clarity!
Long
by CryptoKnee
UNFIUSDT: Bullish Move or Breakdown? Key Levels to Watch Now!Yello, Paradisers! Have you been watching UNFIUSDT? If not, now's the time to pay attention. The market has formed a descending channel, often considered a bullish pattern, and the price is currently sitting in a demand zone. This combination increases the probability of a bullish move from here. Let's break it down: 💎UNFIUSDT has formed a descending channel, a pattern typically seen as bullish. The price is currently in a demand zone, adding to the potential for a bullish reversal. 💎For confirmation from the demand zone, we need to see an Internal Change of Character (I CHoCH) towards a bullish market structure. This would solidify the potential for a bullish move. 💎If the price doesn't give any bullish confirmation from the demand zone but starts moving up and breaks the resistance level, we could see a "W" pattern forming. This pattern often indicates a strong bullish reversal. However, it's crucial to wait for candle closing and a retest of that zone for better confirmation. 💎If the price breaks down and closes below the demand zone, it will invalidate our bullish idea. In this case, it’s better to wait for more favorable price action to form before making any trading decisions. Stay vigilant and keep your trading strategies disciplined, Paradisers. Patience and careful observation will guide you through the market. MyCryptoParadise iFeel the success🌴
ULong
by MyCryptoParadise_Nathan
SasanSeifi 💁‍♂ Daily Analysis with Key Support Zones🔻 Hey there, Let's take a look at the daily timeframe of BINANCE:FILUSDT . As you can see, the price has been on a downtrend since the $11 zone. Currently, after some minor fluctuations, it has been rejected from the 200 EMA and is trading around $5.50. The price is more likely to move downwards. If it consolidates below $5.35, we can expect a further correction toward the SELL SIDE LIQUIDITY and the $4 demand zone. Key support levels are $4 and $3.50. There is a higher probability of a positive reaction from the $4 demand zone. In case of a correction, we need to see how the price reacts. The potential trend is also highlighted in the chart above. Additionally, if the $4 zone breaks down, the $3.50 correction target can be considered. Remember, this is just my personal analysis, not financial advice. Do your own research and make informed decisions. Happy trading!✌😎 Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌ if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
Short
by SasanSeifi
NEAR Protocol's Critical Moment and Ready for Bullish RallyYello! Have you been watching #NEARProtocol’s recent price action? This could be a pivotal moment and you don’t want to miss this! 💎#NEARUSDT has been moving within a descending resistance for quite some time. But recently, it broke through, making a notable upward move. Now, all eyes are on a critical retest of the $5.88 level. 💎#NEAR is currently retesting this key level. If it holds strong above the EMA, there's a high probability we'll see a bullish surge. 💎Should AMEX:NEAR maintain its position above $5.88, this level could transform into robust support, setting the stage for further upward momentum. 💎But what if it doesn't hold? If #NEAR fails to sustain above $5.88 and loses momentum, we’re eyeing a bullish rebound from the lower demand zone at $5.19. This level is packed with significant liquidity, making it a prime candidate for a strong bounce on a retest. 💎Holding above $5.19 and maintaining above the EMA is crucial. This scenario can trigger a powerful bullish move. If NEAR drops below $5.19, the bullish outlook is invalidated, likely leading to a significant price drop. Stay sharp, Paradisers. In these volatile times, disciplined trading and robust strategies are more important than ever. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
PEOPLE/USDT Ready to Breach the Channel Downward | Key MomentYello, Paradisers! Have you been keeping an eye on #PEOPLEUSDT? If not, you might want to pay attention now. Let's analyze the PEOPLE Movement: 💎#PEOPLEUSDT has been navigating an ascending channel and is now retesting the channel's lower support. The volume is diminishing, and the broader market sentiment supports the likelihood of a correction. Here's what you need to know: 💎Support Test at $0.111: The asset is at a crucial support level of $0.111. The reaction here will be pivotal. If #PEOPLE breaks this support, it could head towards a lower demand level as highlighted in our chart. 💎Potential Breakdown: There's a high probability that SEED_DONKEYDAN_MARKET_CAP:PEOPLE will break through this support, propelled by diminishing volume and macro market trends. This move would confirm a downward trend within the ascending channel. Alternative Scenarios: 💎If PEOPLE manages to stay above $0.111, it might retest the ascending channel's upper resistance. This resistance test could either push the price downward again or lead to a continuation of the upward trend if breached. 💎If PEOPLE keeps rising and breaks the ascending resistance, it would invalidate the current correction outlook and signal a potential bullish phase. Stay vigilant, Paradisers! This is a crucial moment for PEOPLEUSDT. Your trading decisions at this point could significantly impact your profitability. MyCryptoParadise iFeel the success🌴
Short
by MyCryptoParadise
5
POLYX/USDT Has Successfully Broken out of Symmetrical Triangle💎#POLYXUSDT has successfully broken out from a Symmetrical Triangle, positioning it for a potential bullish rally. Currently, with robust momentum at the $0.40 support, there's a high probability for #POLYX to challenge and potentially overcome the resistance level ahead. 💎However, if #Polymesh cannot sustain this momentum and dips below the $0.40 mark, we might see a reversal into a bearish trend. The next critical demand zone at $0.354, renowned for its liquidity and historical upward movements, will be the area to watch. 💎In contrast, if $POLYX revisit this demand zone, it's imperative for the price to achieve a rebound to uphold its support structure. Failure to do so could heighten bearish pressures, worsen market sentiment, and perhaps trigger additional declines in its price. 💎Stay focused and adaptable, Paradisers. Your ParadiseTeam is diligently monitoring the market and ready to guide you through any shifts in the dynamics of #Polymesh. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise
SUSHI/USDT Ready For a Bullish Reversal From a Key Support💎#SUSHIUSDT is making a pivotal retest at the lower boundary of its ascending channel. We expect a bullish rally from the $1.10 support level towards the channel's upper resistance. 💎However, if #SUSHI fails to sustain momentum from the $1.10 support and breaks below, we could witness a continuation of the bearish trend. The next essential demand zone at $1.02 is on standby, known for its capacity to drive significant bullish reversals due to its strong liquidity. 💎 In contrast, if CRYPTOCAP:SUSHI tests this demand zone once more, it's vital for the asset to confirm a rebound to sustain its support level. Any failure in this regard could amplify bearish forces, negatively impact market sentiment, and potentially precipitate further price declines. 💎Keep your trading strategies flexible and your senses tuned, Paradisers. Your ParadiseTeam is vigilantly tracking these developments and ready to navigate you through the fluctuating dynamics of the #SushiSwap market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
ZIL/USDT Gaining Momentum For an Exponential Bullish Rally💎#ZILUSDT is currently in a key accumulation phase, demonstrating notable resilience. Every time it touched down in the demand zone between $0.0211 and $0.0196, it rebounded strongly. This pattern indicates a robust setup for continued upward movement as it gears up to challenge the upper resistance. 💎If #ZIL breaks through the resistance at $0.027, this could ignite a bullish momentum, potentially propelling the asset towards a significantly higher target in the supply zone around $0.0373. Surpassing this supply zone is crucial for confirming a bullish trend in the mid-term, setting the stage for reaching our ambitious resistance target. 💎Conversely, if #ZIL encounters resistance and the daily candle closes below the pivotal support, it could invalidate the bullish setup, suggesting potential for further declines and deeper price corrections. 💎Stay vigilant and ready to adapt, Paradisers. Your ParadiseTeam is closely monitoring these developments and is poised to guide you through the evolving dynamics of the #Zilliqa market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
DCR/USDT Ready for a Bullish Rally From a key Support💎#DCRUSDT is primed for action as it approaches the upper boundary of a Descending Channel. From the momentum gained at the support of $19.21, the asset shows a robust setup for breaching the channel constraints. Sustaining this momentum could catapult it out of the descending channel. 💎However, If #Decred cannot hold its ground at $19.21 and dips beneath this level, it might hint at a protracted bearish trend with the next vital demand zone awaiting $17.69. This area is renowned for its dynamic recoveries, fueled by substantial liquidity influxes seen in past interactions. 💎If GETTEX:DCR revisits this demand zone, cementing a robust rebound is essential to uphold its support base. Any lapse in regaining strength could amplify downward pressures, sour market sentiment, and potentially spiral into more severe price retreats. 💎Stay alert and adaptable, Paradisers. Your ParadiseTeam is closely tracking and ready to navigate you through the unfolding dynamics of the #DCR market. MyCryptoParadise iFeel the success
DLong
by MyCryptoParadise_Simon
ACH/USDT Ready to Breakout of a Symmetrical Triangle 💎#ACHUSDT is on the brink of a dynamic shift and moving to challenge the upper edge of a symmetrical triangle. Positioned at the crucial support of $0.0284, the asset is primed for a potential breakout. Holding this momentum could significantly propel it past the channel’s boundary, setting the stage for substantial upward moves. 💎Conversely, if #AlchemyPay cannot sustain this level and slips below $0.0284, it may signal a downtrend extension, eyeing the next vital demand zone at $0.0241. This area is renowned for its liquidity depth, having historically catalyzed notable recoveries. 💎Should FWB:ACH revisit this zone, ensuring a robust rebound is vital for maintaining foundational support. A lack of recovery could intensify bearish trends, deteriorate investor sentiment, and potentially precipitate extended price falls. 💎Keep your strategies flexible and your eyes peeled, Paradisers. Your ParadiseTeam is diligently monitoring and ready to guide you through the evolving dynamics of the #AlchemyPay market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
PORTAL/USDT Breakout Confirmed | Now Getting Ready to Rally👀🚀💎Attention, Paradisers, #PORTALUSDT has recently surged above the falling wedge and is now moving to retest what was once resistance, now turned support, of the wedge. With the Point of Control (POC) of the Volume Profile Visible Range (VPVR) channel providing additional support, the stage is set for a potential bullish continuation. 💎If $PORTAL successfully confirms its support during this retest at $0.754, we can expect a substantial rally fueled by the positive momentum. This setup indicates a strong chance of an upward trend as #Portal looks to capitalize on the solid support at this level. 💎However, if #Portal loses its footing and descends back within the wedge, dipping below the support level, it may signal an extension of the bearish trend, with the $0.705 zone as the next crucial area to watch. This level is renowned for its liquidity and has historically catalyzed significant bullish recoveries. 💎Should #PORTAL test this lower demand zone again, it is imperative to achieve a robust rebound to maintain bullish support. A failure to do so could heighten bearish momentum, sour market sentiment, and potentially precipitate further declines. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
5
SLP/USDT Ready For a Breakout From Descending Channel? 👀🚀💎Paradisers, get set for a potential game-changer with #SLPUSDT! The price reaches the above level of the descending channel and is ready for a bullish breakout. Currently, with support at $0.00346, there's a high probability that it will smash through the channel. 💎If #SmoothLovePotion cannot maintain this energy and dips below the $0.00346 support, it might signal a deepening bearish trend and might reach the next vital demand zone at $0.00319. This level is renowned for its liquidity and has historically triggered notable bullish recoveries. 💎If NASDAQ:SLP revisits this demand zone, achieving a robust rebound is essential for sustaining support. However, failing to do so could amplify bearish forces, sour market sentiment, and potentially catalyze further price drops. 💎Keep your strategies dynamic and your eyes peeled, Paradisers. Your ParadiseTeam is closely monitoring the situation and is prepared to navigate you through the unfolding dynamics of the #SLP market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
ATR/USDT At a Make or Break Point | Watch Out For Correction 👀 💎Paradisers, prepare for a high-stakes scenario with #Artrade! Currently, there's a high probability for a bearish continuation as the price tests the key support at $0.0216. Locked within a descending channel, this level has held up until now, but a fading trading volume hints at a price drop toward the highlighted demand zone. 💎If #ATR does not break below the $0.0216 support and instead climbs, be wary of the resistance at $0.027. This zone has consistently attracted heavy selling pressure and will likely drive the price further down once touched. 💎If NYSE:ATR revisits this critical demand zone, securing a rebound is vital. Failure to recover will actually fuel bullish momentum, potentially leading to a breakout from the current descending pattern and invalidate the bearish scenario. 💎Stay vigilant and prepared, Paradisers. This is a crucial moment that could dictate the next significant move for #Artrade. Keep your strategies flexible and watch closely as we guide you through these unfolding dynamics in the #ATR market. MyCryptoParadise iFeel the success
Short
by MyCryptoParadise_Simon
ATA/USDT In a Make or Break Position | What's Next For ATA?👀🚀 💎Paradisers, #ATA has recently dipped below a falling wedge pattern to test the support zone. 💎After forming a higher peak within a falling wedge, #AutomataNetwork is facing downward pressure from profit taking and broader market conditions. If #ATA can stabilize at the support level of $0.1522 and initiate a reversal then we expect a reattempt to climb back into the channel. 💎However, if #ATAUSDT fails to hold this support and breaks further down, it could signal a faltering bullish stance. Under this scenario, the price might fall to the subsequent significant support level at $0.1349. 💎Historically, ASX:ATA has demonstrated a capacity to recover strongly from this point. If this support holds, a robust rebound may be on the horizon. Yet, a definitive close below this support could overturn the bullish narrative and hint toward a deep bearish trend. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
TLM/USDT Ready for a Swift Recovery From the Recent Bearishness💎Paradisers, brace for a potential bullish shift in the #TLMUSDT market from its current demand zone. 💎After two rounds of profit-taking, #AlienWorlds has exhausted buy-side liquidity. This anticipates a possible dip before a strong rebound from the pivotal Bullish OB zone at $0.01405. If ASX:TLM gains sufficient momentum, expect a vigorous challenge to the upper supply zone. 💎If #TLM falters in maintaining its position within this key support, a strategic adjustment may be necessary. Our Plan B: activating a bullish strategy from the lower demand zone at $0.01217, a critical juncture. A break below this point could signal the onset of a bearish trend in #TLM's trajectory. 💎Remain vigilant and focused, Paradisers. Your ParadiseTeam is diligently monitoring and ready to steer you through the unfolding dynamics of the #AlienWorlds market. MyCryptoParadise iFeel the success
Long
by MyCryptoParadise_Simon
1
ETHFI/USDT Ready to Capture the Liquidity Above? ETHFI Analysis 💎Paradisers, brace yourselves for a captivating shift in the #ETHFIUSDT market, hinting at a potential bullish surge from its current position. 💎Following a recent pushback from a strong supply zone, #Ether.fi has navigated through buy-side liquidity. This preparation might lead to a temporary dip before a robust rebound from the critical bullish support zone at $3.73. If CRYPTOCAP:ETHFI musters sufficient bullish momentum, we could witness a vigorous challenge to the upper supply zone, potentially surpassing it. 💎However, if #ETHFI struggles to hold its position within this key support zone, we might need to swiftly adjust our strategy. Plan B would then be activated, shifting our focus to a bullish engagement from a lower demand zone at $3.0. This juncture is pivotal—if CRYPTOCAP:ETHFI breaches this level, it may signal the onset of a bearish trend. 💎Stay focused and adaptable, Paradisers. Your ParadiseTeam is vigilantly monitoring the market and ready to steer you through the unfolding dynamics of the #Ether.fi market.
Long
by MyCryptoParadise_Simon
2