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TradeCityPro | TRX : An Intense and Unexpected Pump👋 Welcome to TradeCity Pro! In today’s analysis, I’ll review TRX, which recently experienced a sharp and unexpected pump. Many traders in various communities seem to have succumbed to FOMO following yesterday’s surge. This analysis will focus on managing profits and navigating a coin that has already pumped significantly. 📅 Weekly Timeframe: Sharp Rally In the weekly timeframe, there’s a well-established, long-term trendline that has repeatedly supported the price. I’ve often emphasized that if you’re holding TRX, it’s worth holding as long as the price stays above this trendline. 📊 The trading volume has consistently increased during the price’s rise from $0.0493 to $0.1446. After hitting this resistance, the market consolidated between $0.1084 and $0.1446 for a while. 🚀 Once the critical resistance at $0.1446 was broken, TRX achieved a new all-time high. After surpassing $0.1675, the price saw a massive pump. The RSI climbed past 80.97 and now stands at an extraordinary 91.72, indicating extremely overbought conditions. At such high RSI levels, I typically wait for a correction before making any moves. ✅ Profit-Taking Strategy For those who have been holding TRX, consider taking some profits now. With the RSI at such elevated levels and the price nearing the 1.272 Fibonacci level, the likelihood of a correction is significant. I personally take profits at this stage and recommend you do the same. However, do not sell all your holdings, as there’s always the potential for further upward movement. 📈 If the rally continues, the next target would be the 1.618 Fibonacci level, often considered a critical resistance. Nevertheless, taking profits now is wise, especially since many holders are likely over 100% in profit, providing an excellent opportunity to withdraw your initial investment. 🛒 Advice for New Investors If you don’t already hold TRX, do not buy at this stage. This is not an optimal entry point. Current long-term holders are likely to be taking profits, so it wouldn’t be prudent to buy while they are exiting. Patience is key; wait for a correction or a better setup before considering an entry. 📝 Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Long
by tradecitypro
2
TRON - Correction Before A Big MoveTron has reached ATH and now needs a bit of correction before tapping higher levels. As far as Support holds, Bullish move should continue. Please remember this is a long term trade plan. For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management. If you found this analysis helpful, please consider boosting and following for more updates. Disclaimer: This content is for educational purposes only and should not be considered financial advice.
Long
by MarketsPOV
Tron TRX price get ready to...Do you want a stable growth of your crypto deposit? Then pay attention to CRYPTOCAP:TRX Despite the ambiguous reputation of Justin Sun, he has been on the crypto market for a very long time and the OKX:TRXUSDT chart shows that he loves his creation and supports its reputational price. Therefore, we will not be surprised if the price of #TRON is one of the first of the old coins to update ATH in the near future, at least to $0.183, and ideally by $0.26. By the way, our previous idea OKX:TRXUSDT gave us +40% 👇 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
1
TRX | TRON Goes BananasTRON Goes Full Banana Mode : Breaking Records and Throwing Peels at XRP! TRX is up 500% since our first signal , so it’s officially time to party! order some lambos buy some bananas and let’s celebrate like crypto maniacs🎉🚀🍌 Currently priced at $0.38, it’s up a whopping +70% in just 24 hours. That’s the kind of growth that makes even Bitcoin blush. Speaking of records, TRON hit an all time high of $0.43 today, December 4, 2024, but it’s cooled off a bit, sitting just 10% shy of that milestone. With a circulating supply of 86.29 billion TRX tokens (maxed out at the same number, like an all-you-can-eat buffet that’s finally closed), TRON isn’t playing around. Its 24 hour trading volume? A casual $5.50 billion, mostly on Binance, which is practically TRX’s second home. TRON now claims 0.90% of the entire crypto market, flexing a $33.60 billion market cap! After altcoins like DOGE, XRP, HBAR, and XLM strutted their stuff, TRX stormed onto the scene and stole the show. Yesterday, it rocketed from $0.23, smashed through its 2018 ATH like a Kool-Aid man, and set its sights on $0.43. This price explosion wasn’t just luck or hype. TRON’s ecosystem has been buzzing with activity. It’s dominating Tether transactions, launching flashy projects like Sun.Pump (sounds like a cryptocurrency gym), and riding on the relentless promotional energy of founder Justin Sun. He’s been spending cash like a kid in a candy store, including a hefty investment in Donald Trump’s crypto project and yeah the 6.2 million dollar BANANA was the main factor! Speaking of Sun, he stirred the pot on Twitter by cryptically declaring, “TRX = XRP.” Bold move, Justin. For context, XRP skyrocketed after Trump’s election win and SEC Chair Gary Gensler’s dramatic exit. At one point, it gained over 420% in a month. XRP also hit a multi-year high this week near $3 and climbed to become the third-largest cryptocurrency by market cap. TRX’s comparatively “modest” monthly surge of 135% isn’t as flashy, but hey, breaking an all-time high is still a flex. TRON’s market cap is about 5x smaller than XRP’s for now, but in crypto, anything can happen. With this much drama, who needs Netflix? Always take profits, enjoy your trades, and celebrate your wins
by moonypto
Phemex Analysis #40: TRX Boom 103% in One Day!The biggest news today is that TRON (TRX) surged 103% over yesterday. This breaks its record for the highest daily gain, shatters its market cap record by reaching a new high of $36 billion, and propels it into the top 10 biggest coins by market cap. News & Fundamental Analysis While the exact cause of this surge is unknown, many speculate that Justin Sun's post comparing TRX to XRP may have ignited FOMO (fear of missing out) in investors who missed the XRP rally, leading them to rush into TRX. This post quickly caught the attention of many investors, prompting them to take a deeper look into TRX. Here's what they found: 1. TRX is now the most widely used blockchain network for USDT transactions. 2. TRX's daily transaction volume surpasses 8.96 million, which is 2.6 times larger than XRP's daily transaction volume of 3.39 million. 3. TRX's daily transaction volume has surpassed $50 billion, exceeding VISA's daily volume of $42 billion. All of this data further fuels the bullish sentiment on TRX, ultimately leading to the historic 103% surge in a single day! Possible Scenarios Beyond fundamental analysis, let's explore potential scenarios for TRX through key support and resistance level analysis. 1. Rising Higher: The price has dropped 18% from its new all-time high (ATH) of $0.45028 and is currently trading at $0.38656. This is a healthy pullback, allowing the price to consolidate before potentially rising further. If the price breaks through $0.43 with high volume, it may continue climbing and establish a new ATH. 2. Continued Retracement: On the other hand, the price could continue to retrace down to $0.305, $0.27, or even $0.23. This could present a good buying opportunity for investors seeking TRX at a discount. However, it's advisable for investors to employ a Dollar-Cost Averaging (DCA) strategy and set stop-loss orders to manage risk in case of a further price decline. 3. Consolidation: It's also possible that the price might consolidate for an extended period between $0.4328 and $0.3678. In this case, it's best to be patient and wait for a clearer direction before making any trades. Range trading is not recommended for TRX at this time due to its high volatility, which translates to a lower risk-reward ratio for range traders. Conclusion TRX's recent surge has captured the attention of the crypto community. While the future is uncertain, understanding potential scenarios and implementing effective trading strategies can help you navigate this volatile market. Whether you're a long-term investor or a short-term trader, staying informed and adapting to market changes is crucial. Remember, always conduct thorough research before making any investment decisions. Tips: Elevate Your Trading Game with Phemex. Experience unparalleled flexibility with features like multiple watchlists, basket orders, and real-time adjustments to strategy orders. Our USDT-based scaled orders give you precise control over your risk, while iceberg orders provide stealthy execution. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Is TRX Heading for a Bullish Surge? Critical Resistance in SightBINANCE:TRXUSDT shows promising momentum on the 1-hour chart, with recent price movements revealing bullish tendencies. The pair has been steadily climbing, breaking through key levels and showing strength. Traders are closely monitoring the resistance level at 0.4334, which, if breached, could signal further upward movement. On the downside, immediate support is seen at 0.2309, with stronger support lying at 0.2111 and 0.2072. The 9 EMA trending above the 20 EMA indicates short-term bullish momentum. The MACD histogram, while narrowing slightly, remains positive, suggesting that buying interest continues to dominate. RSI values hovering in the overbought territory reflect strong demand but also warn of potential profit-taking. Long traders might consider entries near retracements to the 9 EMA, targeting resistance levels, while short traders could capitalize on price reversals near overbought RSI conditions or resistance zones.
by StevenWalgenbach
TRXUSDT Up trend continuationTRXUSDT has recently pulled back toward a key support level after reaching an all-time high. This support zone has previously acted as a pivot point, underscoring its significance. On the weekly timeframe, a large bullish candle suggests that a retracement to approximately one-third of the previous week's candle or the psychological level at 0.1900 would be a healthy correction. Following this pullback, the price may resume its bullish movement. The target is the resistance zone around 0.2070
Long
by RTED_Investing
Lingrid | TRXUSDT strong BULLISH Trending MARKETThe price perfectly fulfilled my last idea. It hit the target level. BINANCE:TRXUSDT is displaying a strong bullish trend, as evidenced by its consistent formation of higher lows and higher highs. On the daily timeframe, the market has retraced after reaching new all-time highs. There's a possibility that the price might pull back toward the support level, dipping below the psychological round number at 0.200. I anticipate that the market could form a correction toward the lower border of the channel before continuing its upward movement. This correction might provide an opportunity for buyers to enter, with the potential for the price to retest the recent higher high level afterwards. My goal is resistance zone around 0.2200 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
2
TRON | TRX TRX Suddenly Jumps 10%, but Why? The price of TRON is $0.084 today with a 24hour trading volume of 777 million dollar. This represents a 10% price increase in the last 24 hours. TRON founder Justin Sun made it known on Twitter that TRON has expanded its reach by going live on the Ethereum blockchain by leveraging the BitTorrent bridge. "TRX is now fully accessible within the Ethereum ecosystem," the TRON founder added. Onchain analytics highlights that crypto is seeing a bullish end to the week. This comes as the majority of crypto assets are trading in green at press time after earlier declines in the week. TRX has been on a steady rise since March 22 after its price hit lows of $0.055. The move gained immense traction on June 2 as TRX exploded from lows of $0.074 to reach highs of $0.084 I opened long position at 0.049 and going to take huge profit right now.we can have pullback at 0.087 so no fomo. trade with strategy
by moonypto