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TRX to $0.12? Prepare for a Long!TRX continues to march into its current bull channel, pressing on for higher prices. The price just touched the channel resistance and is pulling back, but to what price? We have the previous high in the channel at $0.095 then the 30EMA and bull channel support around $0.09. How do we trade this? We're in a bull channel, which means our probability of profit is higher if we long. If you longed at the channel support every time the price made contact, you would make money. Let the trend do the talking and follow it. We should be looking for entries near two key support levels: the 30EMA and bull channel support, which is around $0.09. Do we simply long when that price is hit? Absolutely not. Wait for a strong bull signal bar closing on or near its high at those levels, confirming that the support is still being respected. Once you see that bounce, it's reasonable to enter a long, place a protective stop just below the channel support, and set your take profit somewhere in the top 20% of the channel as shown in my analysis. This gives you a 1:3 Risk/Reward ratio, meaning you could run this trade 10 times, hit your take profit 30% of the time, and still be profitable. Bitcoin is also at risk of pulling back since it's near Weekly resistance; see my recent analysis for reference. TRX RSI is also around 70.00 which is a weak indicator on its own, but supports the previous data points mentioned here. Key Points 1. Bull Channel. Look for Long Entries. 2. Channel Resistance Touched. Pullback in Progress. 3. Bitcoin Leading Indicator, Risk of Pullback. 4. RSI near 70.00, Plenty of Room to Fall. 5. Look for Bull Signal at Weekly 30EMA. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
BINANCE:TRXUSDLong
by TraderEngineering
TRX/USDT 1DAY UPDATE !!hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron (TRX) rose to a multi-week high on Thursday, on the back of reports claiming that the blockchain sees nearly 5 million daily transactions. TRX/USD peaked at 0.08322 earlier in the day, which comes following a low of 0.08043 the day before. As a result of today’s gains, tron has now risen to its highest point since July 30, when the price traded at a high of 0.08395. it appears that bulls are attempting to reach a ceiling at 0.08600, however, a hurdle on the relative strength index (RSI) seems to be preventing this. Price strength is currently tracking at 67.89, which is marginally below a ceiling at the 68.00 level. In order for bulls to capture their price target, this aforementioned resistance point will need to be broken. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
Long
by CryptoSanders9563
4
TRX/USDT 1DAY UPDATE BY CRYPTOSANDERS !!hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron is the current outlier in our list, as it managed to register an increase of 1.8% this week. This is surprising, considering most altcoins are in red This performance can be explained by the price action, which placed TRX in an uptrend since the start of the year. The price has been making higher lows and higher highs for months now, and this has not stopped to date. Tron has support at $0.077, and if buyers persist, they could take the price back to the key resistance at $0.086. If so, the uptrend would likely continue for some time still. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
Long
by CryptoSanders9563
TRX/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron (TRX) extended a recent bull run for a fourth day, with today’s move taking the token to its highest point since last Sunday Following a low of 0.08221 on Thursday, TRX/USD climbed to an intraday high of 0.08417 earlier in today’s session. Tron bulls appear to be targeting a resistance level at 0.0860, which was last hit during last Saturday’s peak of 0.0943. Since hitting that 20-month high TRX has mostly consolidated, however bullish momentum seems to be gradually returning. This comes after the relative strength index (RSI) moved beyond a ceiling of its own at 63.00, and is now tracking at 64.84. If the current sentiment remains, TRX could reach 0.0860 in the coming days. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
Long
by CryptoSanders9563
TRON retains bullish structure after liquidity grabThe move below the higher low at $0.0752 on 1 June was a liquidity hunt since this break of structure (formation of lower low) was not followed by a lower high and another lower low. Instead, prices pushed past the previous local highs at $0.08 Fibonacci retracement levels showed the 78.6% retracement at $0.0765 was retested as support and TRX bounced higher. This suggested TRX could reach higher to the 23.6% extension level at $0.0885 Entry: $0.0773 Stop-loss: $0.0738 (below the recent low) Take-profit: $0.0885 R:R- 3.1 Given the sentiment in the crypto market, profits can also be taken near the $0.0858 mark
Long
by AMBCrypto_TA
TRX/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron (TRX) was slightly higher on Thursday as the coin moved back to one-year highs. TRX/USD climbed to an intraday high of 0.07819 earlier today after hitting a low of 0.07651 The move came as prices recovered after yesterday's fall, resulting in profit booking. the upside came as the 14-day Relative Strength Index (RSI) found a support point. The floor above was at the 70.00 level, which is already deep in overbought territory. Price strength now tracking 70.42, bears may try to send the coin higher in the coming days. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
TRX/USDT 1DAY UPDATE BY CRYPTOSANDERS !!Hello, welcome to this TRX/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- Tron (TRX) rose close to an eleven-month high to start the week, following a recent four-day bull run. TRX/USD rose to a peak of 0.07841 earlier in the day, which comes a day after trading at a low of 0.07271. As a result of Monday’s move, TRON climbed to its strongest point since June 10 last year. One of the catalysts of the surge appears to be a breakout that transpired on the relative strength index (RSI). The index moved beyond the ceiling of 69.00, and as of writing, is tracking at 77.17. Now in overbought territory, there could be some profit-taking, however, a target of $0.080 still remains a possibility. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
TRON/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this TRON/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- TRON (TRX) soared as much as 2% on Wednesday as the token moved closer to breaking into the top 10 of cryptocurrencies. TRX/USD climbed to an intraday peak of 0.07031 in the first session after hitting a low of 0.06841 on Tuesday. As a result of this jump, TRX is now trading slightly above the long-term resistance at 0.070. It appears that the bulls may aim to not only break above this range but also move up to 0.072, which will take the coin to a three-month high. One of the main hurdles stopping this move is the Relative Strength Index (RSI), which is currently tracking at 59.67, below the 60.00 resistance. If and when price strength moves beyond this point, more bulls will likely re-enter the market. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
TRX - Tron is Ready to Breakout of a 2 Year Bullish Pennant!You will be hard-pressed to find a more bullish USD alt chart out there. Tron has a beautiful bullish continuation structure here on the daily that has been forming since the COVID crash in March of 2020. This massive pennant the price action has bouncing within is almost 2 years in the making. I think the breakout here could be huge. The price action is currently repeating the same exit pattern it had back in 2021. If Tron breaks out, buckle your seat belts and HODL on tight! I'm long here.
Long
by jpbrown1023
2