$TRX /USDT: Strong Rebound After Sell-Off
$TRX has shown remarkable resilience with a strong and rapid recovery after a sharp sell-off. This price action indicates robust demand at lower levels and a potential continuation of the bullish trend.
Long Trade Setup
This trade plan is designed to capitalize on the current upward momentum.
🟢 Entry Zone: $0.325 – $0.329
🎯 Target (TP): $0.333 – $0.338
🔴 Stop-Loss (SL): $0.318
Analysis & Outlook
✓ Sharp Recovery: The price of TRX dropped significantly to $0.2977 before a swift rebound pushed it back above $0.3280. This is a powerful signal that buyers are stepping in to defend the price.
✓ Key Support: The $0.3190 level is now a critical support. As long as the price holds above this level, the bulls are likely to maintain control.
✓ Immediate Resistance: The immediate resistance to watch is in the $0.3330 – $0.3340 range. A clean breakout above this level is needed to confirm further upside and accelerate the rally.
✓ Momentum: The momentum has shifted in favor of the bulls following the strong bounce from the recent low.
Disclaimer: This is not financial advice. All trading carries risk, and past performance is not indicative of future results. Do your own research and manage your risk accordingly before making any trading decisions.