$TRX
$TRX Approaching Critical Resistance! 📈 Breakout or Rejection?
The Situation:
TRX/USDT is currently trading at $0.2777, showing a strong recovery from the recent low of $0.2739. The price is now hugging the Upper Bollinger Band ($0.2779), indicating high bullish momentum but also a potential local top.
Technical Breakdown:
MACD: The MACD is in positive territory (0.0004) with increasing green bars, suggesting the bulls are currently in control.
RSI (10): The RSI is at 71.98, which is in the Overbought zone. This means while the trend is strong, a small cooling-off period or consolidation might happen before the next leg up.
Support/Resistance: TRX is very close to its 24h high of $0.2788.
🎯 Trading Strategy:
Aggressive Entry: $0.2775 - $0.2780 (Looking for a breakout above the 24h high).
Conservative Entry: Wait for a retest of the Middle Band (MB) around $0.2756.
Target 1: $0.2788 (Immediate breakout target).
Target 2: $0.2820 (Extension).
Stop Loss: $0.2730 (Below the recent swing low).
Caution: With the RSI above 70, don't FOMO at the very top. Wait for a candle to close above $0.2780 for confirmation of a continued pump!
Are you Long or Short on $TRX? Let's discuss in the comments! 👇
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