$TRX Breakout Alert: Bulls Eyeing Higher Levels! š
Looking at the TRX/USDT 1-hour chart:
ā¢ Current Price Action: TRX is trading at $0.2037, up +2.72%, showing strong bullish momentum.
ā¢ Moving Averages:
ā¢ MA(7) at 0.2013 is above MA(25) at 0.1998 and MA(99) at 0.1995, confirming a short-term bullish crossover.
ā¢ Price breaking above all key moving averages suggests continued upward momentum.
ā¢ Volume: A significant spike in volume accompanied the recent green candle, indicating strong buyer interest driving the move.
ā¢ Key Resistance and Support:
ā¢ Immediate resistance at $0.2045 (local high).
ā¢ Support now rests around $0.2000 (psychological level) and $0.1968 (24-hour low).
Summary:
TRX is breaking out with strong volume and short-term bullish signals. If it sustains above $0.2000, it could target higher levels like $0.2080 or $0.2100. However, watch for potential profit-taking at key resistance levels. Ideal for traders watching momentum but risky for chasing after a parabolic move.
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