$TRX has caught the attention of traders with a solid 5.89% gain today, currently trading at $0.1779. After hitting a high of $0.1922 in the last 24 hours, the market is showing promising signs of another potential breakout. Let’s dive into the technicals to see what’s driving this momentum!
Key levels to watch:
Support Level: $0.1644 – This level has shown resilience, acting as a solid foundation.
First target: $0.1830 – an achievable short-term target if the bullish trend continues.
Second target: $0.1922 – recovery of the recent high will signal the strength of the uptrend $TRX .
Extended target: $0.2000 – a psychological level that could attract buyers if the momentum continues.
Technical indicators:
Moving averages:
MA(7): $0.1826 – the price is slightly below this short-term average, indicating a potential setup for a bullish bounce.
MA(25): $0.1790 – close to the current price, indicating a consolidation phase that may precede a breakout.
MA(99): $0.1677 – indicates a stable long-term trend, supporting the bullish outlook.
Trading Strategy:
Buy zone: around $0.1770 – if this level holds, we may see a rise to the first target.
Stop-Loss: Below $0.1644 – Manage risk by placing a stop just below the support zone.
Take-Profit Levels: $0.1830, $0.1922 and $0.2000 – Ideal targets as TRX continues its rally.
Resume:
TRX is showing strong activity with potential for further gains if it maintains support around current levels. With active volume and solid technicals, keep an eye on targets to ride the next wave!
#TRX #BinanceTrading #CryptoGains #AltcoinAnalysis #TradingStrategy
