$TRX š BULLISH MOMENTUM š
Chart Overview & Key Levels
Trend & Momentum
TRX is in a bullish consolidation above the $0.34 zone, with healthy inflows confirmed by ~$1B daily volume . Technical ratings remain strong buy across multiple timeframes .
Support Zones:
S1: $0.3416ā0.3430 ā pivot zone where price frequently stabilizes .
S2: $0.3300ā$0.3340 ā deeper support near lower Bollinger band and pivot floor .
Resistance Zones:
R1: $0.349ā$0.350 ā near-term ceiling, recently tested multiple times .
R2: $0.359ā$0.360 ā immediate next level, aligning with pivot resistance .
R3: $0.430ā$0.444 ā long-range target if breakout sustains, near 52-week highs .
Indicators & Patterns:
Bollinger Bands show price nearing upper band at $0.35, hinting at potential short-term pullback .
MACD slightly bearish (histogram negative), though trend overall remains intact .
RSI / Moving Averages read bullish, supporting trend-follow setups .
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ā Trading Strategy
Strategy Type Entry Zone Stop-Loss Targets
Aggressive Long $0.345ā$0.350 Below $0.3415 $0.359 ā $0.360ā$0.365
Breakout Play Close > $0.360 Below $0.355 $0.380 ā $0.430ā$0.444
Dip Buy / Swing $0.330ā$0.334 Below $0.329 $0.350 ā $0.360
ā Tactical Notes
1. Aggressive Long: Enter near the top of the range ($0.345ā$0.350) with a tight stop just under pivot ($0.3415); target the next resistances ($0.359 / $0.360), secure profits swiftly.
2. Breakout Play: Wait for daily close above $0.360 on expanding volume. Stop-loss set just below ($0.355). This could open a run to mid-$0.38 and longer-term $0.43ā$0.444 zone .
Why This Setup Works
The strategy leverages pivot-based structure with well-defined support and resistance, offering clear entries and risk boundaries .
Technical backdrop supports continuation (volume, MA, RSI) while near-term caution via MACD/Bollinger signals prudent risk sizing.