TRXUSDT Idea longBINANCE:TRXUSDT
Bullish setup on a 1Day timeframe.
Going for a new higher high first target 0.1440 and the 2nd target is 0.1500.
NOT A FINANCIAL ADVISE DYOR
Trc20
TRX is a Beast 🦾Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📊 Unlike many altcoins exhibiting high volatility, TRX has demonstrated steady upward movement throughout the entire year.
This bullish trend is engulfed within the rising broadening wedge pattern outlined in orange, currently approaching the upper boundary marked by the orange trendline, serving as a non-horizontal resistance.
Additionally, the zone between 0.105 and 0.115 presents a robust resistance level.
📈 To maintain long-term control, the bulls must breach the 0.115 resistance.
If successful, a movement toward the subsequent resistance level at 0.14 can be anticipated.
📉 Conversely, as long as TRX trades below 0.115, there is potential for bears to instigate one more correction (confirmation needed on lower timeframes).
In such a scenario, we should be vigilant for trend-following buy setups as TRX approaches the lower boundary of the orange trendline.
📚 Always remember to follow your trading plan regarding entry, risk management, and trade management.
Good luck!
And always remember: All strategies are good if managed properly!
~Rich
Keep uptrend even red marketWeekly Chart
Tron BINANCE:TRXUSDT has touched 4 times and bounced back from support by ascending trend line.
Chart 4H TF
Tron is in consolidation phase in range 778 - 795. It needs to confirm the support before go up on.
Wait for next move
TRXUSDT- 1W SETUPTRXUSDT price held the long-term support for one Month and closed above EMA 21. Bulls looked in accumulation mode as they did well by holding the nerves and did not panic sell. So it is giving a good feeling about upcoming sessions that if a breakout happened we could see a massive rally upward. So keep accumulating at these levels.
TRON - Update ✅Let's see how TRX is behaving.
This is a 1D chart. (Mid Term)
TRX is now the first trend on Twitter.
It looks like it has safely passed the support/resistance level on the chart and, after confirmation, will turn it into a local support level. This can start a new uptrend for TRON.
Support levels: 0.06342
Resistance Area: 0.08169
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing BUY volumes for TRX.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that TRX is above the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $0.07171
Let me know your ideas.
Good luck.
Tron update: Testing the support of the main ascending channelTron is testing the support of a long-time ascending channel at $0.08. If this support fails, the next support will be around $0.05. In another scenario if it breaks the triangle resistance it can hit the higher targets at $0.4 and $1.3.
Is Tron on the edge of making a big move?TRC20, a protocol based on Tron, is being used frequently by cryptocurrency activists because of the very low fees on the transactions. Meanwhile, Tron didn't have any significant move in the last 2 years. On the weekly chart in pair with bitcoin Tron has developed a symmetrical triangle. If it breaks out of the triangle upward it can make a leg up to 0.000007. The next targets for bullish scenario are 0.00002047 and 0.00005759.
TRX AnalysisTron in bear market
There is no opp to buy
Wait for 0.05$
Basically on elliott waves Principles
