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Trxusdtechnicalanalysis

TRX Tron Technical Analysis and Trade Idea PLUS My Trading Plan In this video, we delve into a comprehensive technical analysis and trading concept for TRX (Tron). Our assessment reveals a potential trade opportunity. We meticulously analyze the current price action, closely scrutinize market structure, and incorporate market dynamics. Based on favorable conditions, we identify a potential entry point. However, it is crucial to underscore the significance of implementing robust risk management strategies. Please note that this video is purely educational and should not be construed as financial advice.
Short
by fxtraderanthony
6
TRON (TRX) showing a strong uptrenddaily chart is exhibiting several intriguing technical patterns and indicators that merit a professional analysis. TRON (TRX) is currently showing a strong uptrend, as evidenced by the price action creating higher highs and higher lows. This bullish sentiment is further supported by the Relative Strength Index (RSI), which, despite being in overbought territory (above 70), indicates strong buying momentum. The Moving Average Convergence Divergence (MACD) is also in bullish alignment, with the MACD line above the signal line and both residing above the zero line, further reinforcing the strength of the current uptrend. Looking at the Smart Money Concepts (SMC) indicators such as Break of Structure (BOS) and Change of Character (Choch), there have been significant shifts in market structure indicating potential smart money activity. The BOS markers preceding strong directional moves suggest that institutional money may have been a driving force behind these price changes. Fibonacci retracement levels show that the price has surpassed the 0.618 level, which in many cases acts as a resistance turned support level. This could indicate that if a retracement were to occur, the price might find strong support at or above this Fibonacci level. The Volume Profile Visible Range (VPRV) indicates that there is a substantial trading interest at lower price levels, suggesting that if a retracement were to happen, these levels could act as potential areas of demand. A potential harmonic pattern can also be identified, with the price trajectory suggesting a completion near the 0.786 retracement level. This pattern often signifies a reversal point, and as such, could indicate that the current uptrend may experience a reversal or significant retracement upon completion of the pattern. From a smart money perspective, traders would be observing these levels and patterns to align their entries and exits with the anticipated institutional movements. The alignment of strong technical indicators with smart money concepts presents a compelling narrative for the current and future price action of TRON. Traders should closely monitor how the price reacts upon reaching significant Fibonacci levels and harmonic pattern completion, as well as any signs of weakening momentum or trend reversal indicated by the RSI and MACD, to make informed trading decisions.
Long
by BitcoinPandaa
1
Tron TRX price knows how to surprise with its "maneuvers"The TRXUSDT price often moves differently from the rest of the market. This may be because Justin SUN is behind the project, and he likes to "impose his own game" on the market. He is an interesting character in the crypto industry, you can read various investigations and stories about him in your spare time. So, the other day, the TRXUSD price hit a strong mirror level of $0.09. Now TRX price is undergoing a correction. If you believe that Tron's growth trend has not yet reached its culmination and will continue to move in a similar manner to 2020, then buying TRX closer to $0.072 is for you. However, if the TRXUSDT price consolidates below $0.068, the decline may continue, at least to the range of $0.052-0.055 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
40
TRX fall out of the bullish triangle ?"Over the past days, the TRX cryptocurrency has been steadily constructing what appeared to be a promising bullish triangle pattern. This technical formation, characterized by its converging trendlines and diminishing price volatility, had ignited anticipation among traders for a potential upward surge in value. However, recent market developments have shifted this optimistic sentiment. The TRX token seems to have broken free from the confines of the bullish triangle. This breach marks a pivotal moment, suggesting a potential change in the prevailing market dynamics. The breakout from the triangle indicates a shift in the balance between buyers and sellers, and it's crucial to assess the implications of this movement. As the breakout unfolded, the TRX price underwent a testing phase, revisiting the ascending trendline that had previously guided its upward trajectory. This retest of the trendline can serve as a critical confirmation of the triangle's breakdown, potentially signaling a shift towards a downward trend. Traders and analysts are now closely watching whether the price manages to sustain itself above this level, which could indicate a potential recovery, or whether it succumbs to the pressure, implying a further decline in value.
Short
by Bitcoinblockchainonline
Tron [TRX] to face price rejection at range highTRX has been oscillating within the $0.0670 - $0.0710 range in the second half of May. Price action has hit the range high and could expose TRX to more selling pressure. A likely drop could offer a shorting opportunity targeting the support zone of $0.06700 - $0.06770 (cyan). The zone was a crucial resistance in the second half of April but was flipped to support in May. Entry: $0.07074 (below range high) Target: $0.06700 (resistance-cum-support) Stop-Loss: $0.07176 (above range high) R:R - 3.9
Short
by AMBCrypto_TA
1
TRON TRX price is under serious threat. Be careful!At first glance, the price of TRXUSDT has finally broken out of the 2-year consolidation and even managed to test the consolidation from above. With any other cryptocurrency, after such a pattern, one could say with great confidence that it is safe to buy it, as the price is likely to continue to rise. But not in the case of TRX, because yesterday the SEC filed a lawsuit against Justin Sun, the founder of TRON, accusing him of market manipulation, selling unregistered securities, and fraud. The only question we have is: what took so long? After all, these sins of San's have been going on since at least 2017, when it was "pump season". So if you want to buy TRX now, you better think twice about whether you need it. If you still want to buy TRX, then remember what happened to the price of Luna and FTT. Who knows what will come to light during the trial and investigations? Well, Justin Sun can only guess) And if he did know something and he is smart, he could easily sell off his TRX for 2 years while the price was in consolidation. There are many questions and few answers, but soon there will be more. We have shared our thoughts, and the decision is, as always, up to you. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
43
Tron TRX price at the start of a strong trend moveTRXUSDT price has been demonstrating one of the longest consolidations since April 2021, 20 months. You understand that in consolidation: those who believe in growth are always buying at different levels, and those who believe in depreciation TRX are actively selling their portfolio. So when the TRXUSD price breaks out of this consolidation, there will be a strong and prolonged price movement in one direction. The ambitious goals of longs are growth to $0.09, and if they are lucky, to $0.13 Benchmarks for shorts - falling to $0.035, and if lucky, to $0.0175 Which scenario Tron price move is closer to your heart? Whose side are you on? _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
46