COIN NAME:#$TRX
POSITION: LONG
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This chart shows the price movement of the TRX/USDT pair on a 15-minute timeframe. Here’s the breakdown:
Observations:
Price Action and Pattern:
The chart is displaying a symmetrical triangle pattern. This is identified by converging trendlines — the upper trendline (resistance) slopes downward, and the lower trendline (support) slopes upward. Which is bullish sign for Us.
Symmetrical triangles often indicate price consolidation and bullish indicator, with momentum building for a potential breakout.
Breakout Expectation:
A breakout from this symmetrical triangle is anticipated. Based on the green arrow drawn on the chart that I drew, the expectation is an upward breakout toward higher price levels.
IMPORTANT :
If the price breaks above the upper trendline with strong volume, it could signal a bullish continuation and push TRX/USDT to new highs. Conversely, if the price falls below the lower trendline, it could indicate a bearish move.
The Relative Strength Index (RSI) is plotted below the chart. The RSI value of approximately 53.18 suggests neutral momentum, meaning the market is neither overbought nor oversold at this point.
Trade Setup on the 15-Minute Chart:
Current Price: 0.38992
Entry Price: 0.37974 - 0.38992
Stop Loss ( SL): 35092
Targets: 41089 - 42500 - 43405 -45035
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