Token : $TRX
Signal : Short ( short term)
TRX is currently encountering sell pressure near its key resistance level, creating a critical zone for price action. While the broader trend remains firmly bullish, traders should be cautious of false breakouts. A confirmed breakout above the 0.2717 level could trigger the next leg up, pushing TRX into its next market phase. Notably, a MACD crossover on the weekly timeframe suggests potential upward momentum in the coming sessions, although a minor dip may precede this move. In the short term, intraday traders or scalpers might find opportunities on the downside, but for swing or positional traders, the bias remains long—patience and confirmation are key.
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USDT Dominance (USDT.D) is currently moving within a short-term falling trend channel, suggesting a gradual shift away from stablecoins and potential risk-on sentiment returning to the crypto market. As capital rotates out of USDT, it often signals renewed interest in altcoins and Bitcoin, increasing the probability of a broader market upswing. This environment supports a more bullish bias, making long trade setups more favorable than shorts. Traders should monitor this trend closely, as continued weakness in USDT dominance may further fuel momentum across the crypto space, offering attractive entry points for bullish positions.
Trade Setup :
If the market gets rejected from the current resistance zone, it may present a shorting opportunity. In that case, consider entering a short trade with low leverage to manage risk effectively. Set your stop-loss above the 0.285 level to protect against a breakout, and aim for a target range between 0.2411 and 0.2245, aligning with previous support levels. Always wait for clear rejection confirmation before entering the trade to avoid being caught in a false move. Risk management is key in this setup.
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