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TRON

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TRXUSD trade ideas

TRON Burns 9.9 Million TRX Tokens TRON ( CRYPTOCAP:TRX ) executed a substantial token-burning event on February 14th. The initiative saw the elimination of 9.9 million CRYPTOCAP:TRX tokens from circulation. This decision aligns with TRON’s commitment to implementing deflationary measures and fostering value growth within its ecosystem. The token burning event has already shown tremendous impacts on CRYPTOCAP:TRX price and market dynamics. Following the burn, CRYPTOCAP:TRX experienced a noticeable shift in price, reflecting investor sentiments towards the scarcity of $TRX. This move concurs TRON’s proactive approach to managing its token supply and enhancing the overall value proposition for its stakeholders. TRON’s current market data reveals its standing within the cryptocurrency landscape. At the time of analysis, CRYPTOCAP:TRX is trading at a price of $0.13131 with a market cap of $11,460,558,876. The 24-hour trading volume stands at $335,101,295, showcasing significant market activity. With a circulating supply of 88,066,863,814 CRYPTOCAP:TRX and a total supply matching that figure, TRON exhibits stability in its token distribution. TRON’s recent initiatives, particularly the token burning event, reflect a strategic approach towards managing its token economics. By reducing the circulating supply, TRON aims to create scarcity and rigorously drive up the value of $TRX. However, the long-term implications of such measures remain to be seen, as they depend on various factors including market sentiment and adoption. In terms of its position in the cryptocurrency market, TRON holds a noteworthy ranking, currently standing at number 12 in terms of market cap according to Coinmarket Cap. Technical Analysis CRYPTOCAP:TRX has been in an ascending trend. This February 2024, the asset has risen by 15%, reaching a new annual high beyond the $0.131 mark. It's currently difficult to pinpoint any resistance level capable of curtailing this robust buyer momentum. The market might first respond to sellers around the $0.133 and $0.136 levels. Nevertheless, without unexpected negative developments, these thresholds are also at risk of being swiftly surpassed, thus becoming irrelevant. Therefore, engaging in short positions for this asset is generally discouraged. If CRYPTOCAP:TRX undergoes a correction, the zones at $0.121–$0.124 and $0.117–$0.120 are seen as potential areas for buyer orders, making them suitable entry points for long positions. A shift to a downward trend could only realistically occur if Bitcoin falls below $44,500 eventually.
BINANCE:TRXUSD.PLong
by DEXWireNews
TRX Price Eyes $0.20 With This Breakout RallyHigh Momentum Bullish Trend: TRX displays a strong bullish trend with an overhead resistance trendline breakout. Rounding Bottom Reversal: The recovery trend in the weekly chart indicates a rounding bottom reversal, aiming to surpass a 3-year high. Potential to Reach $0.20: A bullish breakout could fuel TRX's price to hit the $0.20 mark. Recovery from $0.050: Following a correction phase in 2022, TRX has been on a reversal rally for the past 15 months. Anticipation of Altcoin Season: Rising expectations for an altcoin season could significantly boost TRX's price. 151% Rise Since November 2022: TRX's price has risen by 151% from its low point in November 2022. Neckline at $0.12 Mark: The rounding bottom pattern's neckline coincides with the 78.60% Fibonacci level. Current Trading Price: TRX is currently trading at $0.1244, with a 2.80% intraday growth. Technical Indicators - RSI and EMA: The RSI is nearing the overbought territory, and the EMAs show a bullish alignment. Bullish Trend to $0.15 and Beyond: Maintaining dominance above $0.10 indicates a possible rally to $0.15 and potentially $0.20. Risk of Reversal to $0.10: A reversal from the $0.12 mark could lead to a price drop back to $0.10.
BINANCE:TRXUSDLong
by Coinpedia-Market-Insight
Tron is above the neckline of a long standing logchart C&HStill working on a weekly candle close above the rimline of this cup and handle and also the top trendline of an even bigger symmetrical triangle pattern seen here on the logarithmic weekly chart. The smaller and more realistic potential breakout target here is for the cup and handle pattern, the one that’s al the way up at $23 is the target for the symmetrical triangles breakout. Seems improbable that Tron could somehow reach a price as high as $23 when considering how sketchy Justin Sun has seemed over the last few years but that is indeed what the chart reveals. I think the smaller cup and handle breakout target is much more probable. For now though we still don’t even have a weekly candle close above the rimline yet, so before getting too excited about Tron s price action I’d need at least 1-2 weekly candle closes above that trendline…maybe even 3-4. Something to keep an eye on here. *not financial advice*
BINANCE:TRXUSD
by DrDovetail
4
Tron's triple trend in next bull runThe steady upward trend of Tron might interest many investors who like the combination of creativity and earning money with internet content. Because that is the main goal of Tron: to facilitate creative people to earn income with various content. The fundamentals of Tron are quite nice. The price action of Tron is a steady upwards flow, accompanied by some extra strong gains and profit takings. It probably will continue doing that, and it might be one of the big winners in a next bull run, which many analists say is about to happen this quarter or next quarter. Let's see first if it can go to 14 cents, and after that, it might touch its ATH of 35 cents. That means it will triple its price from today. Downside of this coin is the total supply of 100 billion tokens, which in the market of today means it will be enormous difficult to reach 1 USD.
BINANCE:TRXUSDLong
by Trado33
TRXUSD.PI believe that a significant Bitcoin price drop to $35,000 could trigger a liquidity crisis in the broader cryptocurrency market. This event would likely lead to a widespread sell-off of various coins, including Tron. Tron's vulnerability stems from its common use as a margin currency for Bitcoin trades, meaning a Bitcoin plunge could force Tron liquidations, driving its price downward. Adding to my bearish outlook for Tron is its current position near a key Fibonacci retracement level, a technical indicator often signaling potential price pullbacks. Should Tron fall below this level, it could signal further declines.
BINANCE:TRXUSD.PShort
by robinhoood
1
Tron, 5 days consolidationAMEX:TRX inside ascending triangle and already touch fibonacci support 0.10212 this coin already enter accumuation with 5 days and 12 hours consolidation, you can see I also draw bullish trendline, in the next hours (not more than 12 hour), this coin will rally to reach triangle resistance, maybe with little a pump, that indicate the consolidation time already over. The worst case is fibonacci support at 0.10212 break down, if this happen, I still have ascending triangle support trendline. My entry : .10310 current price .10212 fibonacci support .10018 Higher low Target : .11017 Ascending triangle resistance Risk every entry : .00100 Risk reward ratio : 6.54 Actual profit percentage : 654% Good luck, happy trading.
BINANCE:TRXUSD.PLong
by AzrulAzir
2