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Technical Analysis TRX/USDT (4H - Binance)

📊 Chart Pattern:

The price is trapped within a sideways channel close to a descending diagonal resistance (yellow line).

Possible breakout soon, with a decision trend in the next candles.

📈 Exponential Moving Averages (EMAs):

EMA 7: 0.23707

EMA 21: 0.24029 (Immediate resistance)

EMA 50: 0.2397

EMA 200: 0.2387

☁ Ichimoku Cloud:

Cloud indicates a resistance zone around 0.23901.

The price is testing this region.

📉 Momentum Indicators:

RSI: 34.80 (Near the oversold region, possible recovery).

Stochastic RSI: 2.50 / 0.83 (Extreme oversold, high probability of reversal upwards).

MACD: Slightly negative, but with a crossing signal approaching.

🔍 Supports and Resistances:

Resistances: 0.23901 (Ichimoku) | 0.24029 (EMA 21) | 0.24285 (Strong resistance zone)

Supports: 0.23000 | 0.22000 (Highlighted buying zone in green)

✅ Conclusion:

If it breaks above 0.240, it may quickly target 0.242 - 0.245.

If it loses 0.230, it may test support in the 0.220 region.

Buying opportunity at support if the Stochastic RSI confirms reversal! 🚀