10.23 Evening Talk with Tao on TRX: Support Tested, Short-term Momentum Shows Positive Signals

Focus on TRX Trends in the Evening, the core of current market judgment still revolves around the offensive and defensive of key technical levels and changes in market momentum.

First, let's look at the core range of support and resistance. 0.3000-0.3145 is the most important support zone at the moment. This area has already been validated for its supporting power during October's fluctuations. If it can hold, the foundation for short-term stabilization is there; once it breaks, the next strong support needs to look at the 0.26-0.28 range. The resistance side is clear, with direct resistance around 0.3287, and stronger resistance at 0.353 and 0.37. Only by breaking through 0.353 can there be a chance to target 0.37 or even 0.40.

Market momentum indicators are releasing positive signals, with RSI rising from low levels towards the neutral zone, and the MACD line also nearing a bullish crossover, indicating that short-term selling pressure is gradually weakening. However, it should be noted that the 20-day and 50-day moving averages are still in a downward trend, and overall upward momentum is still relatively mild. More buying pressure is needed to further open up space.

For operational reference, consider buying around 0.3175-0.3210, with the initial target at 0.3245, and then observe the breakout situation at 0.3270.

Lastly, a reminder: the above is only a technical analysis and thought sharing, and is by no means an investment advice. Be sure to combine with your own risk tolerance, make rational decisions, and participate cautiously. #TRX‏