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TRXUSDT trade ideas

TRX: Ascending TriangleTRON (TRX) technical analysis: Trade setup : A rare asset that’s remained in an uptrend despite the overall market correction, signaling robust demand from buyers. Now it’s trading in an Ascending Triangle, which typical resolves in a bullish breakout in the direction of existing Uptrend. In this case, price needs to break above $0.070-$0.075 resistance zone to signal Uptrend continuation, with upside potential to $0.09 thereafter. Pattern : Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart. Trend : Uptrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing. Support and Resistance : Nearest Support Zone is $0.065 (previous resistance), then $0.058. The nearest Resistance Zone is $0.071.
Long
by altFINS
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
TRON (TRX)/USDT WCA - Inverted Head and Shoulders PatternHello and thank you for taking the time to read my post. Today, we analyze TRON (TRX)/USDT on the weekly scale chart, focusing on an exciting price pattern known as the "Inverted Head and Shoulders Pattern." In our analysis, this pattern suggests that TRX/USDT could be a strong candidate for an upcoming breakout to the upside. Inverted Head and Shoulders Pattern: The inverted head and shoulders pattern is a bullish reversal pattern that occurs at the end of a downtrend. It is characterized by three troughs or valleys, with the middle one being the lowest (the head) and the two on either side being relatively higher (the shoulders). The pattern is completed by a horizontal line called the "neckline," which connects the highs of the shoulders. In a nutshell, the formation of the inverted head and shoulders pattern signals a potential reversal from a downtrend to an uptrend. Analysis: The general trend for TRX/USDT has been a downtrend since 12/04/2021, as seen through the diagonal resistance. We broke this resistance on 23/01/2023 and have since been trading sideways. A strong indication of potential support is evident in the wicks (price extremes) highlighted with blue markers, and the 200 EMA playing a supporting role, indicating a bullish environment. The main focus of our analysis is the perfectly defined inverted head and shoulders pattern. With a clear neckline and horizontal resistance at 0.07201, the two shoulders respect the symmetry line. It appears that the right shoulder is preparing for a test of the neckline. Upon a breakout, the price target would be 0.02615, corresponding to a 36.30% increase. A breakout filter could be applied to avoid premature breakouts. Conclusion: The TRX/USDT weekly chart analysis highlights the inverted head and shoulders pattern as a potential breakout candidate to the upside. Traders should closely monitor this pattern and the neckline for any signs of a breakout. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
TRX Tron Double Top Chart PatternTRX Tron has formed one of the most obvious and bearish chart pattern out there: the Double Top. The double top chart pattern is a bearish reversal pattern that is commonly observed in technical analysis of financial markets. This pattern typically forms after an extended uptrend, indicating that the market may be losing momentum and could potentially reverse its direction. The pattern is characterized by two distinct peaks that are formed at approximately the same price level, separated by a period of consolidation or retracement in between. The two peaks are often referred to as the "left shoulder" and the "right shoulder," while the period of consolidation in between is referred to as the "neckline." Once the second peak is formed and the price breaks below the neckline, it is considered a confirmation of the double top pattern. This break below the neckline indicates that the buyers are no longer able to push the price higher, and the sellers may have regained control of the market. The Price Target of this pattern for TRX Tron on this particular pattern is $0.054! Looking forward to read your opinion about it!
Short
by TopgOptions
Trxusdt Getting Ready For Massive Bullish Move TRXUSDT has recently confirmed a breakout in the higher time-frame, indicating a potential shift in market sentiment towards the coin. This breakout suggests that TRXUSDT may be entering a new bullish trend and could offer an opportunity for traders to profit. However, before taking a long position, it is important to wait for a successful retest of the breakout level. If the coin retests the breakout level and holds above it, this would confirm the validity of the breakout and increase the probability of a strong bullish move in the mid-term. Expectation: Based on the strength of the breakout and the potential for a successful retest, a hard pump of 150-300% is anticipated in the mid-term. However, traders should always manage their risk and use proper risk management techniques to protect their capital.
Long
by Crypto-By-Ghazi
Tron TRX Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments. The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak. Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier. Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market. TRX/USDT short Entry Range: $0.065 - 0.070 Price Target 1: $0.055 Price Target 2: $0.045 Price Target 3: $0.030 Stop Loss: $0.074
Short
by BuySellMarketMaker
TRX Tron Founder Justin Sun 4 Days Left To SEC Lawsuit Summon !Justin Sun's Deadline Approaches: 4 Days Left to Respond to SEC Lawsuit Summon Over Alleged TRX Market Manipulation! Tron (TRX) cryptocurrency founder Justin Sun has reportedly been issued a summons in the Securities and Exchange Commission (SEC) lawsuit. The SEC charged Sun with "fraudulently manipulating the secondary market for TRX through extensive wash trading," claiming that trades were made without a change in "beneficial ownership." The SEC also alleged that the distribution and sale of BTT and TRX required Sun to register the sales with the agency because they were allegedly sold as securities. In addition, the SEC accused Sun of orchestrating "a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation." This claim suggests that Sun may have been involved in misleading investors by paying celebrities to promote TRX and BTT without disclosing their compensation. The allegations against Sun are significant and could potentially have a significant impact on the cryptocurrency market. I expect TRX Tron selloff soon! Looking forward to read your opinion about it!
Short
by TopgOptions
Key Support and Resistance Levels Suggest Bullish MomentumTRX is a cryptocurrency that currently trades around the 0.06650 area, and looking at its 4-hour timeframe, we can see that it is exhibiting some interesting price movements. There are several key prices on this chart, including both local and solid support and resistance levels. The first level to consider is the 0.06523 area, which is the 0 Fibonacci level on the 4-hour timeframe. This area has acted as strong support in the past, and if TRX were to fall below this level, it may signal a shift in sentiment and potential downside momentum. Another important level is the 0.06611 area, which is the 0.5 Fibonacci level on the 4-hour timeframe. This level has acted as both support and resistance in the past, and if TRX were to break above this level, it may signal a potential bullish move higher. The 1 Fibonacci level at 0.06699 and the upper Bollinger band at 0.06683 are also important resistance levels to watch. If TRX were to break above these levels, it could indicate a potential strong upward momentum and a bullish trend. On the other hand, the lower Bollinger band at 0.06544 and the hourly EMA 50 at 0.06597 are solid support levels that may prevent TRX from dropping further. If TRX were to fall below these levels, it may signal further downside momentum and a potential bearish trend. Looking at the volume oscillator, we can see that it currently stands at 20%, indicating moderate volume during the 4-hour timeframe. The MACD stands at 0.00004, indicating some bullish momentum. The stochastic oscillator at 67.5 also suggests that TRX may be in a bullish phase. Lastly, the On-Balance Volume (OBV) stands at 75.584B, suggesting that buyers are currently in control of the market. In conclusion, while there are several important support and resistance levels to consider on this chart, TRX appears to be in a bullish phase at the moment, with several indicators suggesting upward momentum. However, traders should still be cautious and closely monitor price movements, as any shifts in sentiment or sudden changes in volume could have a significant impact on TRX's price.
by MonoCoinSignal
2
#Tron is Bullish but Pinned Below $0.0675 After Dropping 8%Past Performance of Tron Tron prices remain in a consolidation, looking at the performance in the daily chart. Overly, buyers of Q1 2023 appear to be in charge. Still, the failure of buyers to convincingly break above the recent resistance levels questions the strength of the uptrend. For now, critical reaction levels remain to be $0.0675 and $0.0645. #Tron Technical Analysis TRX is bound in a tight consolidation zone with clear resistance and support levels. Buyers of Q1 2023, as mentioned earlier, remain in control. The rejection of lower prices in recent trading sessions is a huge positive for the coin. However, for buyers to be aligned with the primary trend from mid-March, there must be a high-volume break above $0.0675 to confirm buyers of mid-March 2023. TRX may float to $0.073, or February 2023 highs in that case. What to Expect from #TRX? TRX rose nearly 45% in Q1 2023 but is down 8% from peaks, supporting the preview that buyers are in control. Still, there must be a clear breakout from the current consolidation. If not, deeper corrections below the last week's lows may see TRX crash to $0.055. Resistance level to watch out for: $0.0675 Support level to watch out for: $0.0645 Disclaimer: Opinions expressed are not investment advice. Do your research.
Short
by Bitcoin_Analyzer
TRXUSDT → Consolidation. Breaking through Strong Resistance TRXUSDT breaks the downward resistance, which has been holding the price back for more than a year. As we can see, the price forms a local uptrend and on the next retest the coin forms a breakout. What's next? The energy for the breakout has been accumulating since the end of last year. The last month and a half the price sticks to the resistance and forms pressure from below. (Triangle area). While many altcoins have been confidently updating highs TRX has been practicing stamina and accumulating. It remains for the bulls to hold the 0.0650 level defense behind them. Strong support: 0.065, 0.0600. Strong resistance: 0.0700 (breakdown strategy) I expect from the bulls a confident consolidation of the price above the broken line with the subsequent growth towards 0.0800, then to 0.1000 Regards R. Linda!
by RLinda
15