📈 TRX: Is the Downtrend a Chance to Buy? A Deep Dive into Its Market Movement 📉

Current Price Analysis

Based on the 12-hour chart, $TRX is currently trading at $0.3525, showing a -4.19% decrease. The price has been rejected from the resistance around $0.3700 and has since been in a clear downtrend, forming a series of lower lows. The overall market momentum appears to be bearish, with the price action indicating a strong sell-off. The price is now trading below the recent short-term highs, which now act as resistance.

SPOT Check: Best Entry

The price action for Tron is currently showing strong bearish momentum. The recent rejection from a key resistance level suggests that the bulls have lost control. While the price is now approaching a potential support area, the overall trend remains downwards. A wait-and-see approach would be prudent until a clear sign of a trend reversal is established.

👉 Suggestion: SELL 🔴

* Reason: The price has been rejected from a key resistance level, and the momentum is clearly to the downside, indicating that sellers are in control.

FUTURES Setup

Binance offers a Futures contract for $TRX Given the strong bearish signals from the chart, a short position is a logical strategy to capitalize on the current market direction. The price has failed to break above its recent high and is now in a clear downtrend.

👉 Suggestion: SHORT 📉

* Reason: The price is showing a clear bearish reversal from its recent high, with the chart indicating strong downward momentum.

This is not financial advice. DYOR (Do Your Own Research).

Wisdom Note: A true trader understands that a price correction is a lesson, not a failure.

Would you short this move? Comment below ⤵️

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