TRX/USDT – Daily Chart Analysis
TRX is shaping a textbook Cup Pattern on the daily timeframe — a strong bullish continuation signal if confirmed. Price has gradually curved upward, and we are now testing the key resistance area at 0.29–0.30.
📌 Key Scenarios:
🔹 Bullish Breakout Scenario:
A confirmed breakout and daily close above 0.30 would validate the cup formation and set the stage for a rally toward the next target zones at 0.35 and 0.45 — measured based on the cup’s depth.
🔹 Bearish Rejection Scenario:
If the resistance holds, expect a pullback toward the midline (~0.24) for potential accumulation and base-building before the next move.
💡 Volume confirmation and breakout momentum are critical to watch here. The market is approaching a decision point.
🟢 Our directional bias remains bullish — we anticipate the breakout to occur, leading to an upward continuation. However, we’ll wait for confirmation of the breakout and completion of the pattern before entering a long position.
Trade active
👉 TRX has now broken through the resistance zone — the setup played out nicely.We're currently waiting for a clean pullback to the breakout level to look for a low-risk entry and ride the next bullish leg.
Trade closed: target reached
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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.
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.