Let's talk about the bullish signals and trading strategies for TRX
Bullish Factors:
In the past month, TRX accumulation has increased, with 98% of holders in profit and social media engagement rising. TRON's daily trading volume has doubled, and network revenue is growing. There has been a net outflow of TRX from exchanges, indicating a stronger holding intent, similar to the pattern in October 2024, followed by a price rebound.
Technical Analysis:
Since May, TRX has fluctuated between $0.24 and $0.2945, with $0.3 being a key resistance level.
$0.24 to $0.28 serves as strong support, with low selling pressure.
The range of $0.29 and $0.295 to $0.3 is a concentrated liquidity area, where prices may be attracted.
Trading Strategy:
Long: Entry: $0.24 to $0.28.
Target: $0.295 to $0.3.
Stop Loss: Below $0.24.
Breakout Long:
After breaking above $0.2945 and retesting $0.3 as support, go long with a target of $0.32 and a stop loss below $0.29.
Short: Short when a bearish reversal occurs between $0.295 and $0.3, targeting $0.28 or $0.24, with a stop loss above $0.3.
Risk: Profit-taking or reversals may occur near $0.3, so it is important to pay attention to market fluctuations and the breakout situation at $0.2945.
Conclusion:
The bullish trend for TRX is evident, with $0.24 to $0.28 serving as strong support. A breakout above $0.2945 could extend the upward momentum, so please operate flexibly in accordance with market conditions.
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