$TRX /USDT technical analysis shows that the coin is currently trading at 0.3170, with signs of consolidation near an important psychological level. Here is a breakdown of the current technical setup:
🔑 Support and resistance levels:
Immediate support: 0.3120 – an important level that was established during the recent corrections.
Resistance Zone: 0.3200 – 0.3250 – Strong resistance that $TRX must break to activate the upward momentum.
📉 Trend Analysis: TRX is trading in a narrow range, indicating a state of indecision in the market. A breakout or breakdown from this accumulation phase could be a starting point for the next significant move.
💡 Trading Strategy:
For Buyers: Look for a break above 0.3200 with strong volume. Targets: 0.3300 & 0.3400.
For Bears: Wait for a break below 0.3120, which will open the way for a decline to 0.3050 or lower.
🎯 Important Tip: Keep an eye on Bitcoin movement as it may affect TRX direction. Make sure to set stop loss levels to manage risk effectively.
TRX is at a crucial moment. Will buyers take control, or will sellers push the price lower? Stay tuned and trade with caution!
