$TRX /USDC – Bearish Consolidation, Watch for Key Reversal!
Momentum analysis: TRX/USDC is currently experiencing a slight pullback, trading at $0.2273, showing a -0.31% change. The price is consolidating between $0.2256 (support) and $0.2304 (resistance), indicating a possible pause before a breakout in either direction. Traders should watch for either a continuation of this consolidation or a reversal to higher levels.
Long Setup:
Entry Zone: $0.2270 - $0.2275
Targets:
T1: $0.2290
T2: $0.2304 (previous high)
T3: $0.2320
Stop Loss: $0.2250 (below recent low)
Breakout Confirmation Level & Key Support:
Breakout Confirmation: A strong move above $0.2304 would signal a bullish reversal.
Key Support: $0.2256 is critical for the current range; breaking this could see further downside.
Pro Tip for Traders: Watch the order book depth closely for signs of a shift in momentum. A surge in buying volume near $0.2270 could trigger a bullish breakout.
Trading Data:
Price: $0.2273
24h High: $0.2304
24h Low: $0.2256
Volume (TRX): 8.10M
Volume (USDC): 1.85M