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TRX: Ascending Triangle BreakoutTRON (TRX) technical analysis: Trade setup : A rare asset that’s remained in an uptrend despite the overall market correction, signaling robust demand from buyers. Price broke above the Ascending Triangle pattern, which is a sign of an Uptrend. However, price is getting overbought RSI ~ 80. Wait for price to pullback near $0.073. This could be a potential swing entry with upside potential to $0.09. 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 Bullish (MACD Line is above MACD Signal Line and RSI is above 55). Support and Resistance : Nearest Support Zone is $0.065, then $0.058. The nearest Resistance Zone is $0.073, which it broke, then $0.090.
Long
by altFINS
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
Trade Of The Day | TRX | Tron breaking out for potential 8.17%Trade Of The Day | TRX | Tron breaking out for potential 8.17% Tron has had a ton of bullish news around it recently and the technicals are starting to look pretty good wit ha key breakout now showing. It's a little overbought so could be a little retrace before a bigger move up. | Breaking Longterm Resistance & Triangle Pattern | Break and retest Daily 20 EMA | Bullish Signal | Overbought so watch out for a retrace maybe into a cup and handle
Long
by Kryptochristian
TRX Tron Double TopThe Double Top and Double Bottom are some of the most obvious and reliable chart patterns in technical analysis, especially for financial instruments that don't trade based on fundamentals, such as TRX Tron. If it were based on fundamentals, TRX should have been traded much lower by now, considering Justin Sun is being sued by the SEC (Securities and Exchange Commission). However, that's not the case. In fact, for crypto technical analysis, which focuses on human behavior in the candlestick charts, it works better than fundamental analysis, which often involves FUD (fear, uncertainty, and doubt) or FOMO (fear of missing out). According to the Double Top chart pattern, my short-term price target for TRX Tron is $0.054. I look forward to reading your opinion about it!
Short
by TopgOptions
1
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
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
#TRX/USDT on the verge of a Breakout in Weekly.This coin has been trading sideways since June 2022. A breakout is likely. Zooming in on the Daily Chart A clear Breakout is visible. The upcoming weekly close will clear more doubts eventually. A weekly close above the .07 level will trigger a Bullish rally. Recommended Entry:- .061 to .066 Targets:- 0.088, 0.097, 0.114, 0.126, 0.1412 Stop loss:- 0.05272 Please observe the chart for more details. Let me know what you think in the comments. DO HIT THE LIKE BUTTON IF YOU WANT TO SUPPORT MY CONTENT. Thank you so much for your support. #PEACE
Long
by Cryptorphic
11