$TRX /USDT Technical Analysis & Trade Signals
Current Price: $0.3985
Momentum: Strong bullish trend, with high trading volume and positive market sentiment.
Key Indicators:
1. RSI: Overbought zone (~75), signaling strong buying pressure but watch for possible retracement.
2. MACD: Bullish crossover, indicating further upward momentum.
3. Support Levels: $0.3500, $0.3000
4. Resistance Levels: $0.4200, $0.4500
Trade Setup:
Entry Point:
Buy between $0.3850 - $0.4000 after slight retracement for optimal entry.
Targets 🎯:
1. Target 1: $0.4200 (Short-term resistance)
2. Target 2: $0.4500 (24h high and psychological level)
3. Target 3: $0.4900 (Potential breakout level)
Stop Loss:
Place at $0.3500 to minimize risk.
Trade Momentum:
Bullish Bias: Favoring upward movement due to Layer 1 strength and volume surge.
Watch for profit-taking near $0.4500 and adjust targets as momentum develops.
Strategy Notes:
Scalp Traders: Focus on 15m and 1h charts for quick entries and exits.
Swing Traders: Monitor 4h and 1D charts for larger price moves towards T2 and T3.
🚨 Always practice risk management and keep an eye on market conditions!
