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TRXUSD trade ideas

Here’s Why TRX Prices Can Recover To Cross $0.10Tron (TRX) maintains an upward trend since November 2022 with a 55% year-to-date growth. Recent 22% price jump led to a rising channel formation, but faced selling pressure at $0.085. TRX prices dropped 10% in four days, now at $0.076 (23.60% Fibonacci level). In the past 48 hours, TRX prices rose by 2.02%, finding support at 23.60% Fibonacci level. Selling pressure suggests a potential drop to the ascending trendline near $0.071 (38.20% Fibonacci level). If buyers hold off selling at $0.076, bullish reversal could challenge the $0.085 overhead resistance. Breakout at $0.085 may push TRX to the psychological $0.10 mark. On the flip side, a breakdown at $0.076 could challenge the bullish dominance, possibly leading to $0.067 or $0.063 (50% or 61.80% Fibonacci level).
BINANCE:TRXUSDLong
by Coinpedia-Market-Insight
Will TRX Price Can Reach $0.11 With This Triangle Breakout? The TRX price shows a descending triangle breakout on the weekly chart and is up by nearly 28% over the past two months. After a massive 500% rise in 2021, the TRX price trend started to decline in a descending triangle pattern, with bottom support at $0.045. A recent recovery rally of 28% starting from the 38.20% Fibonacci level indicates potential for a sustained breakout in 2023. With a morning star pattern at the 38.20% Fibonacci level, TRX coin price is currently at $0.0833, showing a bullish breakout from the triangle pattern. Five consecutive bullish candles in the weekly chart, and a rising channel pattern in the daily chart, suggest further bullish growth. Despite facing resistance from the 50% Fibonacci level at $0.8385, if TRX price closes above this level, it could potentially reach $0.10. The RSI line is near the oversold boundary and the ADX line in the DMI indicator shows high trend momentum, suggesting further growth. If TRX price crosses the $0.8385 mark, it could potentially breach the $0.10 level and challenge the overhead supply at $0.1178 (78.60% Fibonacci level). However, if the rising channel breaks, TRX prices could retest at $0.077.
BINANCE:TRXUSDLong
by Coinpedia-Market-Insight
1
TRX TRONUSD UPWARDS POWERFULL BULL TRENDWhat is TRON? TRON’s tagline is to “decentralize the web,” and its ecosystem consists of several decentralized applications, some of which are quite well known. However, its primary purpose is to decentralize the content creation and distribution industry, which has received criticism for its censorship and unfair revenue distribution. To this end, TRON provides several tools alongside its protocol to ensure more democratic content creation processes. Some examples of centralized platforms that have censored videos and held a particularly strong revenue distribution control include YouTube. Indeed, the latter has censored several videos related to the cryptocurrency industry. Monetization is also a commonly discussed pain point related to YouTube. For many whose income depends largely on content, this can have a serious impact on their lives. The TRON network actually features a number of cryptocurrencies, including BitTorrent Token (BTT), JST, and a TRC-20 based version of the Tether (USDT) stablecoin. TRON has outlined a set of Dapps that work with these tokens, and with BTT at least, that includes BitTorrent Speed, BitTorrent File System, and DLive. Just (JST) is TRON’s DeFi-focused asset that powers a suite of related services. Within its remit is a stablecoin called JustStable (USDJ); JustLend, a lending platform; and JustSwap, a means to exchange to TRC-20 tokens. What makes TRON stand out? On the face of it, there isn’t much that separates TRON from its competitors. After all, all of them could just as well build Dapps that support the same goal as that of TRON. Indeed, many of them already do. However, with a more focused approach on this matter, TRON perhaps stands a chance to gain ground in this specific niche. With interoperability becoming a focal point of general blockchain development, this could perhaps further cement TRON’s position as a content-focused network. The unique selling point of TRON is that content on the network can be accessed by anyone, anywhere, with the prerequisite of an internet connection. This helps transcend censorship measures imposed by governments or companies. Several countries with totalitarian governments restrict websites and platforms, and TRON can help in this battle against censorship. Technical Analysis: Price has memory. That is a key concept in technical analysis. One of the basic tenets of the study of price history is “support broken, tends to act as resistance.”  The opposite is also a technical analysis maxim, “resistance broken, tends to act as support.” Have you ever considered why you see this play out on a chart so often? It is simple, it is because of the “anchoring bias.” Briefly, the anchoring bias is the human tendency to rely heavily on the first piece of information encountered when making decisions and then use that initial piece of information to make future decisions. Think of the price you may have personally paid for a stock. You tend to base your future decisions about that stock based on your purchase price. We calculate risk from that level and we measure our return based on that entry price. For better or worse, we are “anchored” to the price we paid. Price charts are used in an attempt to understand the collective reasoning and psychology of the participants so we can objectively prepare our trading plan. In the case of traditional (horizontal) support being broken and then acting as subsequent resistance, the more participants who are “anchored” to a price level, the greater a move will become when there is a break of that price point. When price breaks a major level of support, the “trapped longs” will have a propensity to look to get out at “breakeven” the supply from these participants helps to form resistance. In a trending market, the classic horizontal support and resistance levels are not always obvious. If we want to measure price memory from an “event” the Anchored Volume Weighted Average Price tool is the most effective means to accomplish this task. First, let’s define an “event.” In the markets, I consider a significant event to be any date from which price movement began or reversed. A short list of such events could be: earnings dates, week to date, month to date, year to date, FDA announcements, Fed announcements or just simple swing highs and lows. YELLOW ARROWS: These VWAPS were anchored off of significant pullback lows, notice how buyers emerged to defend these levels on subsequent pullbacks. Notice that the longer the anchor point is on the chart, the less sensitive to current price action it will become. The AVWAP is not just useful on longer term timeframes, it can also reveal some key insights about market behavior on intermediate and shorter-term timeframes  After gapping lower, buyers took control of the TRX and the AVWAP from that swing low provided intraday support on a panic selloff As buyers became more aggressive on the gap higher, this AVWAP was briefly violated in early December, but then proved to be a good support level as prices stabilized near 0.59 Because of its moving property, the AVWAP can be analyzed in ways like a traditional moving average. Some considerations when using this indicator include; direction and slope of the AVWAP, how far above or below price action is in relation to the AVWAP, etc. A robust indicator such as AVWAP can be implemented into any trading analysis or strategy. Experiment with various anchor points in you targeted markets and stocks and you will immediately recognize its value. As a stand-alone study or when viewed with other oscillators and indicators, the AVWAP is likely to become one of your favorite analysis tools. S1 0.61 S2 0.54 S3 0.48 On May 9th 2023 the Donchian Channel breakout has been confirmed by high volatility and volume, RSI +68,a strong sign that the breakout is valid and promissing to start the uptrend
CAPITALCOM:TRXUSDLong
by DaveBrascoFX
3
TRX 4H ForecastTRX had a downward spike in previous market movement, and we can look at this upward price movement as a correction (CP). Price got close to the gray order block but didn’t get a chance to enter, but if you look closer, you can see it did a Double-top with the Pin-bar shown with the red line .. and made an excellent downfall after that .. now the price is near the dynamic trend line, and was looking for good spots to enter, Here are the instructions : 
1 - Price goes up to the resistance shown with line 1, which is also near the neckline in lower timeframes. 
2 - After that price moves back down to Line 3, which is a Support zone in his time frame and higher time frames. 
3 - next, t price moves back up to line 2, which is a golden pocket 4 - and then goes to line 4, which is the last support zone in this time frame (support zone near the price ), and that’s where the whales are waiting for you Please leave your comments, and let's talk and share some insights.
BINANCE:TRXUSD.PShort
by Cryptosours
TRX Break Out Failed, Possibly Heading Under 3 cents in 2024One of the most important things in trading is forego your own wants and want what the market wants. When Glenn Neely and I first came up with the x-wave idea for BTC, I did not want to believe it was true and I continued to WANT my diametric pattern to be the end of the bear market, as it had been for the last few months. As time has gone on it gets harder to deny that what we have formed over the last few months is an x-wave, on both BTC and TRX and the vast majority of crypto assets, and that we are only a little past half way finished with this bear market that began in 2021. The market is probably going to go to max pain from here. That means another 1-2 years of bear market and the global crypto market cap being slashed in half over that time. This is based almost entirely on the wave forecast, which indicates the bull market over the last few months is an x-wave. The reason why this is now being considered as an x-wave instead of the beginning of a new bull run is because we did not see the required confirmatory price action following the bottom in January. We should have seen moves much bigger and faster than wave-b, what we had, especially on TRX, was a move which is far smaller and far slower than wave-b. This is not what the beginning of a new bull market looks like. In particular on TRX it looks like it has formed a contracting triangle after wave-g, which is very weak and not at all how a bull market should begin, but it does form into a very nice looking x-wave. This is likely to be followed by another diametric which could take just as long as the previous one, and will probably be slightly shorter, taking TRX to under 3 cents. After this happens probably sometime in 2024 we will begin to see a move bringing TRX above 1 USD and probably much higher than that. Momentum is also bearish on multiple timeframes including the weekly and the monthly. Neely River Theory has also not given any buy signals on TRX yet and remains in bearish territory. On top of that, the regulatory issues in the US, and the lack of new money coming from other parts of the world like China is a major headwind for the whole market. A Wells Notice received by Coinbase at the same time the SEC sued Justin Sun implies that Coinbase will soon be charged with operating an unlicensed securities exchange, and may have to pause and seriously wind down operations until the court case is finished. The exact timing of when this lawsuit will be filed is not clear, but one thing is almost certain is they will be sued eventually after receiving a well's notice, and the comments made by Brian Armstrong indicate they are coming after their core spot business model. This is being considered as a possible regulatory trigger for this protracted bear market, however there are many other possible events which could cause negative headwinds especially from a regulatory standpoint, like Ripple losing their lawsuit or seeing it drag on for another year or two, and further ugly developments in Justin Sun's suit or other developers being sued. The reason this is significant is because it will seriously hinder new money coming in from the US, and short of mainland China opening retail crypto exchanges it's hard to imagine anyway that new money is going to be coming into the market at the same pace as 2017 or 2013. The lawsuits against Ripple and Justin Sun are also very significant because they hinder big developer's ability to effectively market their cryptos to US-based persons, or even through social media platforms like Twitter which may have US citizens browsing on there, opening developers up to liability if they advertise on these platforms or within the US, again severely reducing the flow of new money into the market, which is required for any real bull market to emerge. Whatever the eventual trigger is for this bear market, most important to this analysis is the Wave theory which indicates, based on the rule of reverse logic, that we are only near the middle of this bear market and this could drag on until next year. As much as I didn't want to believe this at first and I wanted to assume even if we do get a wave down it will be quick, that is most likely not what the market wants. Based on the best wave analysis possible, all signs point to this going to max pain, which is a very deep, protracted bear market that could drag on well into next year. The attitudes of many traders I have seen, especially to bearish ideas, are an echo of the peak in November 2021 which I called almost perfectly. The regulatory headwinds are also an echo of the SEC's DeFi crackdown which began in late 2021. And the wave theory and technical indicators here are clear and convincing, just like in 2021. Over leveraged crypto firms like Microstrategy and some BTC miners that are at risk of collapse during a protracted bear market are an echo of Luna, 3AC, and FTX. There may still be some small upside left in wave-x, but short of a massive breakout which would need to go almost completely vertical and send us flying past the velocity of wave-b (which is very unlikely), then we are probably going to form a top here very soon and begin a major decent towards max pain, finally squeezing out these over leveraged crypto firms and creating a temporary fire sale of cryptos.
KRAKEN:TRXUSDShort
by Intuit
2
Tron: Trend is your friendA lot of people getting bullish here but it's important to remember that Tron was and still is in a bearish market structure. Consistent lower highs and the current push still has the potential to be the next lower high. Especially with the current state of the economy, the FED has no intentions of slowing down interest rates. Making it harder to attract money into high-risk plays like altcoins. It is much more likely for the bearish trend to continue and for new lows to form. Best case wait for a strong market structure change and acceptance at higher prices or wait for the market to head lower down to accumulate.
BINANCE:TRXUSDShort
by sachu_blessyou
1
TRONUSD: Logscale AB=CD Looking to Play Out For a 2nd TimeThis is a Cup with Handle and an AB=CD at the same time that I posted before, but it was on the FTX chart and that one actually ended up playing out perfectly but on other exchanges TRXUSD just kinda sat here but now it's breaking out on a Monthly timeframe and it's starting to look like we will be getting the same performance we got on FTX on a more Global level so I'm just reposting it on a chart that's still alive since the FTX chart is gone. The MACD on the Monthly should also be going into positive territory very soon. Here is the link to the original setup: On another note, TRX recently reached the TP target of a more recent daily trend line trade, one could try to hold on for the bigger target presented on the monthly chart, or they could take some profits now given how much they are up. Here's a link to that setup:
KRAKEN:TRXUSDLong
by RizeSenpai
trxusd daily accumulation buy low tp bulls 50% gains🔸Hello traders, today let's review daily price chart for TRXUSD . strong gains recently off the range lows, however currently price getting overextended and trading near range highs, so overall risk/reward is shifting in bears favor. expecting pullback in this market in May/June 2023. 🔸Active trading range is defined by range lows at 0.055 cents and range highs at 0.07 cents. Premium prices at 0.05 cents and 0.075 cents overhead. Limited upside beyond prem prices. Trading in weel defined range for almost 12 months now, strong re-accumulation. 🔸Recommended strategy bulls: expecting pullback/retest of range lows later in May/June. Best reload zone for position traders on buy side near 0.055 cents. Short-term correction so bulls should wait on sidelines and be ready to reload lower near 0.05. final TP bulls +50% gains. 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
BINANCE:TRXUSDLong
by ProjectSyndicate
47