$TRX /USDT Technical Analysis and Trade Signals
Current Price: $0.3791 (+57.11%)
Momentum: Strong bullish momentum with high volatility.
Support & Resistance Levels:
Immediate Support: $0.3400
Key Resistance: $0.4500
Technical Indicators:
1. RSI (Relative Strength Index): Overbought zone, indicating caution for new entries.
2. Moving Averages:
50 EMA: Bullish crossover with price above 50 EMA, signaling upward momentum.
200 EMA: Price well above long-term support levels, confirming strength.
3. Volume Analysis:
High volume indicates strong participation, supporting the upward trend.
Trade Signals:
Trade Type: Short-term buy (momentum-based)
Entry Zone:
Ideal Entry: $0.3600-$0.3700
Aggressive Entry: Current price $0.3791
Targets 🎯:
1. Target 1: $0.4200
2. Target 2: $0.4500
3. Target 3: $0.5000
Stop Loss: $0.3400 (to limit downside risk)
Momentum Analysis:
Bullish Momentum: Favorable for scalping or short-term trades as long as volume sustains.
Caution: Overbought conditions could lead to temporary pullbacks, but overall trend remains strong.