TRX MARKET STRUCTURE ANALYSIS TODAY
I'm tracking
$TRX closely as it's hovering near the resistance zone of ~$0.37303, with a 24-hour change of 0.03% and a 24-hour volume of $19.71M. The volume profile indicates a relatively neutral buying pressure, with
$TRX struggling to break above this level. It's worth noting that a clean breakout above $0.37303 could lead to a potential target of $0.37800, representing a 1.1% increase from current prices if
$TRX can sustain above $0.37303. I'm monitoring the order blocks and liquidity pools, and
$TRX shouldn't have issues holding above the support zone of ~$0.36582.
The market structure shift is neutral, with
$TRX trading near the mid-range of $0.36945. The funding rates are relatively stable, and
$TRX is trading around the VWAP of $0.37120.
A potential long entry could be considered if
$TRX breaks above $0.37303, with a target of $0.37800 and a stop loss below $0.36582, representing a 4.5% risk-reward ratio.
$TRX #TRX #Crypto #BinanceSquare