$TRX Finds Support: Short-Term Rebound Setup on the Cards
$TRX is trading at $0.2926 on the 15-minute timeframe, following a pullback from its recent high of $0.3047. The price is approaching support near $0.2920, a critical level where buyers could step in for a rebound. This zone presents a short-term trading opportunity as the chart suggests stabilization.
For traders looking to capitalize, an entry between $0.2915 – $0.2930 offers an ideal range. Short-term targets are well-defined to reduce risk: TP1 at $0.2950, TP2 at $0.2970, and TP3 at $0.2990. To safeguard against further downside, a stop-loss at $0.2900 is recommended.
With the RSI at 31, TRX is nearing oversold conditions, increasing the likelihood of a bounce. The MACD still reflects bearish momentum, so traders should monitor volume closely to confirm a reversal. This setup offers a calculated approach for short-term gains within a tight price range.