This is a public service announcement: Please be extremely cautious with $TRX. The chart is screaming danger, suggesting a potential multi-month correction is about to accelerate.
Major Red Flags Identified:
Broken Trendline: The strong ascending support trendline (green line) that guided the price for months has been decisively broken, confirming a critical shift from bullish momentum to bearish control.
Failed Rally & Bearish Structure: After setting a major top, the subsequent rally failed to establish a higher high, running directly into established resistance before descending again. This validates strong selling pressure.
Imminent Crash Potential: The entire chart structure points to a massive downside move. Technical analysis suggests a potential 80%+ decline from recent highs is possible, targeting levels near $0.09 if the breakdown accelerates.
Entering a position here is incredibly risky. I strongly advise staying on the sidelines. Don't let cheap prices fool you—this could get much cheaper as the market digests this structural failure.
Are you holding any coins with similar ugly charts? Share in the comments so we can all be aware!
