1. General Appearance:
The chart uses a 15-minute time frame. This shows that the focus is on short-term movements. The price has entered a consolidation period after making an upward move.
2. Formation and Formation Rotation:
• Pattern: Price appears to be forming a bullish flag pattern. This pattern usually indicates a continuation of the trend.
• Target: If the formation breaks upwards, the target will be moved up by the length of the flagpole. This indicates approximately 0.58 - 0.60 levels.
3. Support and Resistance Levels:
• Support:
• 0.39: Lower trend line of the flag.
• 0.35: The main support level below the formation.
• Resistance:
• 0.42: Upper trend line of the flag.
• 0.45 and 0.50: Intermediate resistance levels.
• 0.58 - 0.60: Final target resistance level.
4. Indicators:
There is no specific indicator on the chart, but the general momentum is bullish. This can be confirmed by the RSI or MACD. Volume growth is important for the uptrend to continue.
5. Trend Direction:
The price is currently in an upward trend. The exit from the consolidation process is likely to be upward, but the possibility of a downward trend breakout should also be taken into account during this process.
6. Strategy and Recommendation:
• Acquisition Strategy:
• If the formation closes above the upper line (0.42), a buying opportunity can be evaluated. Targets can be determined as 0.50, 0.58 and 0.60.
• Stop Loss:
• Positions can be closed if the daily close is below 0.39.
• Risk Management:
• Since it is a short-term transaction, position size should be kept low.
• Volume should be followed. Increasing volume is essential for the continuation of the rise.
Conclusion:
TRX/USDT has a structure that can continue its uptrend. However, market dynamics can change rapidly, so attention should be paid to breakouts and volume confirmations. The most important level to consider is 0.42. Closing above this level will support the continuation of the trend.
