In the past few days, the price of TRX (Tron) has fluctuated within the range of 0.24409 to 0.26543, displaying a certain oscillating trend. Although there was a significant drop on December 18, the price has gradually risen since but has not broken through the previous highs. The current market shape suggests that while there may be some selling pressure in the short term, there is still room for upward movement in the long term.
From the performance of the candlesticks, the recent consolidation has lasted for some time, and the price fluctuation range is quite clear.
After the decline on December 18, the price experienced a brief rebound but failed to break through the previous high of 0.26543, indicating some selling pressure. The current price pattern brings a degree of uncertainty to the market, but according to the current technical indicators, there are no obvious reversal signals, but rather a state of consolidation and buildup.
MACD: Currently, both DIF and DEA are positive, but the MACD histogram shows negative values, indicating certain selling pressure in the market, which may lead to a pullback in the short term. However, the DIF and DEA remain positive, suggesting that the current price may not have deviated from the long-term upward trend.
RSI: The RSI value is close to 50, within the neutral zone. This indicates that the market does not currently exhibit obvious overbought or oversold conditions, and traders can still judge market direction based on other technical signals. Therefore, the neutral position of the RSI does not provide a clear reversal signal.
EMA (20, 60, 120 moving averages): The 20 and 60 moving averages are close together, forming a short-term consolidation range, while the 120 moving average remains below the price, indicating strong support. This arrangement of moving averages shows that the long-term trend of the market still leans towards the upside, and the short-term fluctuations are more about adjustment, not changing the overall bullish trend. [Bullish]
Changes in trading volume are an important confirmation signal for price fluctuations. On December 27, TRX's trading volume increased significantly to 858,048,643, indicating active market sentiment and high trading enthusiasm among investors. However, the trading volume on December 28 decreased to 191,918,121, reflecting a slight stabilization in market sentiment. Nevertheless, the substantial increase in trading volume still indicates strong trading interest in the market, which is a key factor supporting further price increases.
Combining the points above, here are my suggested buying and selling points for both long and short positions:
Short-term:
Buy Point 1: 0.25000 USDT, close to the previous low, with support, suitable for short-term entry.
Buy Point 2: 0.24500 USDT, closer to the lowest point on December 22, with stronger support, suitable for a more conservative entry strategy.
Long Position Stop-Loss Point: 0.24000 USDT. If the price falls below the lowest point on December 21, it will confirm a downward trend, and the stop-loss should be set promptly.
Short Point 1: 0.26500 USDT, close to recent highs, which has some pressure and may be a short-term selling opportunity.
Short Point 2: 0.27000 USDT. If the price breaks through the previous high, it may encounter new selling pressure, which can serve as a further selling signal.
Short Position Stop-Loss Point: 0.27500 USDT. If the price breaks through the highest point on December 19, it may confirm that the price continues to rise, and the stop-loss should be set promptly.
$TRX (Contract)
Long-term: Bullish
$TRX (Spot)
It is recommended to buy 30% of the available funds at this time; then gradually build positions in the white consolidation area in the above chart twice.
To avoid missing out while lowering entry costs.
----- Summary: Although prices may continue to fluctuate in the short term, the long-term trend of TRX remains positive based on the current technicals and market sentiment. The EMA moving average system shows that the long-term upward trend has not changed, and trading volume and technical indicators also support the expectation of a gradual market strengthening. Therefore, my view is bullish, and I recommend buying in at the appropriate support range while setting stop-loss orders to control risk.
Breakouts after consolidation are typically a buildup of bullish momentum, and the current market conditions fit this pattern. As long as prices do not fall below key support levels, we can remain optimistic about future upward movement.
Finally, remember to like and follow, have a great weekend ❤️