TRON (TRX) is exhibiting bearish momentum, with a 7.44% decline over the past 24 hours, bringing the price to approximately $0.2500.
Entry Point: Consider entering a short position around $0.2490, aligning with the current consolidation zone.
Take-Profit Levels:
1. TP1: $0.2460, near the 24-hour low, serving as a conservative target.
2. TP2: $0.2400, identified as a strong support level.
Stop-Loss: Set a stop-loss at $0.2530, positioned above recent resistance levels.
Risk/Reward Ratio: This setup offers a favorable risk/reward ratio of 1:3.
Caution: Remain vigilant for volume spikes or potential trend reversals, as TRX has demonstrated significant volatility in the past.
Action Plan: Monitor the market closely, adhere to your strategy, and be prepared to adjust based on price momentum.
Trade wisely!