TRON (TRX) technical analysis:
Trade setup: A rare asset that’s remained in an uptrend despite the overall market correction, signaling robust demand from buyers. Price broke above the Ascending Triangle pattern, which is a sign of an Uptrend. However, price is getting overbought RSI ~ 80. Wait for price to pullback near $0.073. This could be a potential swing entry with upside potential to $0.09.
Pattern: Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.065, then $0.058. The nearest Resistance Zone is $0.073, which it broke, then $0.090.
Trade setup: A rare asset that’s remained in an uptrend despite the overall market correction, signaling robust demand from buyers. Price broke above the Ascending Triangle pattern, which is a sign of an Uptrend. However, price is getting overbought RSI ~ 80. Wait for price to pullback near $0.073. This could be a potential swing entry with upside potential to $0.09.
Pattern: Ascending Triangle which is a continuation pattern (it typically breaks out in the direction of existing trend). Most traders wait for a breakout but Swing traders could trade between the trendlines (Buy at Support, Sell at Resistance) as long as the trendlines are still relatively far apart.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).
Support and Resistance: Nearest Support Zone is $0.065, then $0.058. The nearest Resistance Zone is $0.073, which it broke, then $0.090.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.