Current TRX Price: 0.24318 (Operating near the central zone on the 4-hour chart)
Yesterday's High: 0.2486
Yesterday's Low: 0.2411
Current volatility is relatively narrow, in a short-term consolidation phase, but there are initial signs of direction.
Chart Structure Analysis
【1-hour Chart】
The K-line has been repeatedly suppressed in the 0.243-0.245 range, but each time the lower support remains strong, indicating a bias towards 'slightly bullish' in the bulls-bears contest.
EMA5/10/20 shows a converging turning point, with MA30 (0.245) becoming a critical resistance.
BOLL bands are slightly narrowing, indicating that short-term volatility may suddenly increase.
【4-hour Chart】
On the 4-hour chart structure, after previously surging to around 0.259, it has retraced, currently still oscillating within the retracement channel to build a bottom.
Multiple moving averages are entangled and dense, a typical precursor to direction selection.
Key support area below: 0.240-0.238, if broken, it will weaken.
Upper resistance area: 0.245-0.248, which is key for a short-term breakout.
Today's predicted direction: consolidating with a bullish bias, attempting to rise to the 245-248 area
Suggested trading range
First Support Level: 0.24680
Second Support Level: 0.24850
Support Level: 0.23900
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