Will TRX Price Can Reach $0.11 With This Triangle Breakout?

• The TRX price shows a descending triangle breakout on the weekly chart and is up by nearly 28% over the past two months.
  
• After a massive 500% rise in 2021, the TRX price trend started to decline in a descending triangle pattern, with bottom support at $0.045.
  
• A recent recovery rally of 28% starting from the 38.20% Fibonacci level indicates potential for a sustained breakout in 2023.
  
• With a morning star pattern at the 38.20% Fibonacci level, TRX coin price is currently at $0.0833, showing a bullish breakout from the triangle pattern.
  
• Five consecutive bullish candles in the weekly chart, and a rising channel pattern in the daily chart, suggest further bullish growth.
  
• Despite facing resistance from the 50% Fibonacci level at $0.8385, if TRX price closes above this level, it could potentially reach $0.10.
  
• The RSI line is near the oversold boundary and the ADX line in the DMI indicator shows high trend momentum, suggesting further growth.
  
• If TRX price crosses the $0.8385 mark, it could potentially breach the $0.10 level and challenge the overhead supply at $0.1178 (78.60% Fibonacci level).
  
• However, if the rising channel breaks, TRX prices could retest at $0.077.