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TRXUSDT_26B410.USD trade ideas

TRXUSD Strong short-term but long-term needs moreTron (TRXUSD) has showed incredible strength short-term since May 01 up until today. Even though it broke above the 1D MA200 (orange trend-line) yesterday for the first time since December 17 2021, the coin remains within a long-term Triangle pattern since the April 21 2021 High. As a result it is still best to trade the Triangle (buy low - sell high) for as long as the 1W MA100 (red trend-line) supports and the Lower Highs (top) trend-line of the Triangle resists. In order for the market sentiment to turn bullish again on the long-term, we believe that a break above the 0.786 Fibonacci retracement level is needed (which contained the previous Lower High). In that case we expected a new rally towards the 1.382 Fib (matched the April 2021 High) and the 1.618 Fib in extension around 0.2200 - 0.2300. Note that the 1D CCI has been within a Channel Up since the last Triangle Higher Low. Adds to the bullish break-out case. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BINANCE:TRXUSD
by TradingShot
2
TRONThere is absolutely every chance of recovering at least 50% of the global fall in TRON. TRON has approached a key point, the intersection of two trend lines at the level of 0.06500. After a significant drop since the end of 2021, there is every chance of a breakdown of the trend line of the descending channel with the subsequent formation of an upward trend. The first target of the ascending channel is the resistance level of 0.8000, breaking through which opens the possibility of testing the level of 0.10000, which will be 50% of the last long-term decline. If the level of intersection of two trend lines at 0.6500 holds and TRON remains within the long-term downward channel, the next local support may be 0.05000 with the prospect of testing the level of 0.03500. The level of 0.05000 is a strong historical support, below which large volumes of pending purchases are concentrated; this fact can provide significant support to this level.
BINANCE:TRXUSDLong
by Kuznetsov_Sergey
Tron Price Analysis — April 29Despite the broader weakness in the crypto market on Friday, TRX has traded against the grain as it tapped a new weekly high above the $0.0700 top. However, it appears that bulls lack the composure to sustain this rally as the cryptocurrency falls back to the $0.0650 support. With the recent surge and rejection, TRX has lighted up a descending trendline, which is acting on the price to retest the $0.0600 low. Regardless, I anticipate a bullish rebound to the $0.0700 top over the coming days and a possible break towards the $0.07500 top. In the meantime, a bearish continuation below $0.0620 is highly unlikely. Meanwhile, my resistance levels are $0.0680, $0.0700, and $0.0720, and my support levels are $0.0650, $0.0620, and $0.0600. Total Market Capitalization: $1.78 trillion Tron Market Capitalization: $6.7 billion Tron Dominance: 0.37% Market Rank: #22
BINANCE:TRXUSDLong
by Mr_Wogbe_Alex