Hi!
TRON is showing a very clean structural recovery and is currently trading at $0.2863. After breaking a long-term descending trendline, the price has successfully "engulfed" previous resistance, signaling that the bulls are back in control.
The Setup:
TRX is now trending steadily within an ascending channel. We’ve seen a successful retest of the local support zone near $0.2800, which provided the springboard for this latest leg up.
The Strategy:
The technical bias is strongly bullish as long as the price maintains its position within the rising channel.
Bottom Line: The trend is your friend here. With the trendline broken and the channel holding firm, we are looking for a continuation toward the $0.2950 level. Any minor dips toward the channel's lower boundary should be viewed as potential accumulation zones.
TRON is showing a very clean structural recovery and is currently trading at $0.2863. After breaking a long-term descending trendline, the price has successfully "engulfed" previous resistance, signaling that the bulls are back in control.
The Setup:
TRX is now trending steadily within an ascending channel. We’ve seen a successful retest of the local support zone near $0.2800, which provided the springboard for this latest leg up.
The Strategy:
The technical bias is strongly bullish as long as the price maintains its position within the rising channel.
- Current Price: $0.2863
- Target 1: $0.2950 (Recent structural high)
- Target 2: $0.3100 – $0.3140 (Major supply zone)
Bottom Line: The trend is your friend here. With the trendline broken and the channel holding firm, we are looking for a continuation toward the $0.2950 level. Any minor dips toward the channel's lower boundary should be viewed as potential accumulation zones.
Telegram channel: t.me/melikatrader94
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Forex channel: t.me/melikatrader94GoldForex
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Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram channel: t.me/melikatrader94
------
Forex channel: t.me/melikatrader94GoldForex
------
Forex channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
