โ๐ TRX Bull Run: Sustained Momentum or Local Top? ๐
โI've been monitoring the $TRX price action, and the trend is undeniably strong. Looking at the 4H and 1D timeframes, TRON is showing the kind of steady growth that traders love to see.
โTechnical Observations:
โ1D Trend (Image 1): We are seeing a beautiful "walking the bands" scenario. Price is consistently closing above the 20-day moving average (MB) and pushing against the upper Bollinger Band. This usually indicates a strong, trending market rather than an overbought one.
โ4H Consolidation (Image 2): After hitting a local high of $0.3366, we are seeing a minor healthy retracement to find support. The MACD histogram is still in the green, suggesting the bulls haven't finished their run yet.
โKey Levels: Support is firmly established at $0.3205 (Daily MB), while the immediate goal for bulls is a daily close above the $0.337 resistance.
โ๐ฏ The Trading Setup:
โโ Entry Zone: $0.324 - $0.328 (Looking for support on the 4H middle band)
โ๐ Target 1: $0.345
โ๐ Target 2: $0.360
โ๐ Target 3: New Cycle Highs ๐
โ๐ Stop Loss: $0.312 (Below the recent daily swing low)
โTRX has become a staple for network stability and USDT movement, and the chart reflects that fundamental strength.
โAre you riding the TRON wave to the top, or are you looking for an entry on a deeper dip? Let's talk strategy in the comments! ๐
โ#TRX #TRON #BinanceSquare #CryptoTrading #TechnicalAnalysis #Altcoins