As the TRX/USDT pair continues to show bullish momentum, let's break down the technical analysis with 3 key price targets to watch.
Key Levels:
1. Target 1: 0.2664 USDT (MA(7)) This level aligns with the short-term moving average and could be a strong resistance point. A break above this level could signal a continuation of the upward trend.
2. Target 2: 0.2736 USDT (MA(25)) If TRX/USDT reaches this level, it would indicate that the asset is gaining strength and could pave the way for further bullish movements. This is a significant mid-term resistance.
3. Target 3: 0.1932 USDT (MA(99)) On the flip side, a pullback towards this level could be a potential support area for buyers to re-enter. This represents a deeper retracement for the pair if the upward momentum falters.
Technical Indicators:
Volume: 956.75M TRX traded in the last 24 hours, showing strong market activity.
Market Sentiment: The price has seen a +2.47% increase in the last 24 hours, demonstrating bullish sentiment in the market.
Stay tuned for further updates and happy trading! 🚀
TRX/USDT is currently trading at $0.2434, showing steady movement as it approaches key levels. The price action suggests a potential breakout or retracement, giving traders opportunities to capitalize on the next move.
📊 Key Levels to Watch:
Resistance: $0.2500 – A clean break and close above this psychological level could push the price toward $0.2580 and $0.2650.
Support: $0.2380 and $0.2300 – These levels are crucial for bulls to defend and could provide solid bounce zones.
🎯 Entry Strategy:
Bullish Play: Look for a breakout above $0.2500 with strong volume. Targets: $0.2580 and $0.2650.
Pullback Entries: If the price dips to support at $0.2380, watch for buying opportunities with signs of reversal.
⚠️ Risk Management:
Set a stop-loss below $0.2300 to minimize downside risk and protect your capital.
TRX is showing strength as it builds momentum near resistance. A breakout could fuel a strong move upward, while pullbacks might offer buy-the-dip opportunities. 📈 Stay sharp, trade the levels, and let the market lead the way! 🚀🔥