TRX (Tron) is showing early signs of a parabolic breakout, supported by strong momentum and a solid technical structure.
After a long accumulation phase, TRX has gained bullish traction and is now accelerating. The price action suggests the beginning of a steep upward curve, often associated with parabolic rallies.
Using Fibonacci extensions, we identify 4 bullish targets:
Target 1: 0.618 Fib - 0.35 – initial breakout confirmation zone
Target 2: 0.786 Fib – 0.39 - key mid-level resistance
Target 3: 1.272 Fib – 0.51 - extended bullish target
Target 4: 1.618 Fib – 0.60 - full parabolic potential
This setup provides a great opportunity for trend traders aiming to ride the wave early.
After a long accumulation phase, TRX has gained bullish traction and is now accelerating. The price action suggests the beginning of a steep upward curve, often associated with parabolic rallies.
Using Fibonacci extensions, we identify 4 bullish targets:
Target 1: 0.618 Fib - 0.35 – initial breakout confirmation zone
Target 2: 0.786 Fib – 0.39 - key mid-level resistance
Target 3: 1.272 Fib – 0.51 - extended bullish target
Target 4: 1.618 Fib – 0.60 - full parabolic potential
This setup provides a great opportunity for trend traders aiming to ride the wave early.
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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.