TRX/USDT : Could the Cup and Handle Pattern Push Prices Beyond $0.20?
TRX/USDT is displaying a potential Cup and Handle pattern, a bullish technical indicator often signaling a significant breakout. If confirmed, this pattern could propel TRX beyond the critical $0.20 level, a major psychological resistance.
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Pattern Breakdown :
Cup Formation :
A rounded bottom spanning weeks, reflecting accumulation and recovery.
Resistance at $0.125–$0.13 marks the neckline for a potential breakout.
Handle Formation :
A minor consolidation phase below $0.13 shows healthy retracement before another upward move.
Key Levels to Watch :
Immediate Resistance : $0.13 (Breakout zone).
Major Target : $0.20–$0.22 (Pattern projection).
Support Zones :
$0.115–$0.12 (Critical handle support).
$0.105 (Bullish invalidation level).
Bullish vs. Bearish Scenarios :
Bullish : Breaking above $0.13 with strong volume could ignite a rally toward $0.20 or higher.
Bearish : Failure to breach $0.13 may lead to a pullback toward $0.115. A daily close below $0.105 would invalidate the bullish outlook.
Implications for TRX Users :
A rally above $0.20 might increase transaction fees on the TRON network, as higher TRX prices make network usage more costly. Frequent USDT users should account for this possibility.
Pro Tip for Investors :
Wait for a confirmed breakout above $0.13 with volume before entering.
Use $0.12 as a stop-loss to minimize risks.
Conclusion :
The Cup and Handle pattern suggests a bullish opportunity for TRX, with the potential to test $0.20–$0.22. For TRON network users, planning for increased transaction costs is advisable. Stay vigilant, watch key levels, and trade with strategy! 🚀
