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TRXUSD Futures Contract (Perpetual)TRXUSD Futures Contract (Perpetual)TRXUSD Futures Contract (Perpetual)

TRXUSD Futures Contract (Perpetual)

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TRXUSD.P trade ideas

TRON (TRXUSD) Technical AnalysisTRON (TRXUSD) has experienced a varied trend over the past few months, showing signs of both bullish and bearish momentum. As of the last available trading session, TRON trades at $0.1193, showcasing a modest intraday gain. The trading environment is marked by fluctuations, and our analysis will delve into various technical indicators to forecast potential price movements and provide trading insights. Technical Indicators Breakdown Moving Averages: The Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs) across various periods largely signal 'Buy'. This uniformity suggests a strong underlying bullish sentiment. Particularly, the EMA (10) at $0.1174 and SMA (10) at $0.1167 reinforce short-term positive trends. MACD (Moving Average Convergence Divergence): The MACD level on the daily chart shows a slight bullish signal at 0.0001, implying that the momentum could be shifting in favor of the bulls, albeit modestly. RSI (Relative Strength Index): The RSI stands at 55.66, which indicates neither overbought nor oversold conditions, aligning with a more neutral, yet slightly bullish market sentiment. Stochastics: The %K value at 87.25 and the Stochastic RSI both suggest that the asset is nearing overbought territory, potentially indicating an upcoming pullback or consolidation. Candlestick Analysis and Chart Patterns The recent candlesticks show a series of green candles indicating a recovery from previous bearish trends. The market appears to have found support at $0.1176, just above the 50-day EMA. The presence of a bullish engulfing pattern last week signals potential continued upward movement. Fibonacci Retracements and Pivot Points Fibonacci Retracements: The key resistance level lies at $0.1356 (1.618 Fibonacci extension). Immediate support is at $0.1145 (0.618 retracement level). Pivot Points: The main pivot point rests at $0.1251. Resistance levels R1 and R2 are found at $0.1398 and $0.1567, respectively, while support levels S1 and S2 are at $0.1082 and $0.0935. Volume and Market Sentiment Trading volume has shown variability, yet there is no sharp increase, indicating that the recent price increase isn’t backed by heavy buying, which may question the sustainability of the rally. Price Prediction and Trading Strategy Price Target: Considering the resistance at the Fibonacci level of $0.1356 and the current bullish indicators, a short-term price target for TRX is set around $0.1300 to $0.1356. The potential for breaking past $0.1356 could lead to extended gains towards $0.1400. Entry and Exit Points: Traders might consider entering positions around the $0.1176 to $0.1190 range, leveraging the current support levels. It is advisable to place a stop-loss just below the recent swing low at $0.1082. The exit strategy should aim for the first resistance near $0.1300, with a possibility to hold for $0.1356 if market conditions remain favorable. Risk Management: Given the current market conditions, maintaining a tight stop-loss and monitoring the reaction near key resistance levels will be crucial to manage risk effectively. Conclusion TRON’s market position, according to technical analysis, indicates a cautiously optimistic outlook with room for potential growth in the short term. Traders should stay alert to the volume and price action near critical technical levels for better confirmation of the anticipated movement. As always, consider integrating these insights with broader market analysis and individual risk tolerance before trading.
CRYPTO:TRXUSD
by AxiomEx
TRX Sitting on Launch Pad to $10+TRX Has broken out from this 6 year triangle and perfectly retested the trendline. As long as support at 11 cents holds TRON looks ready to finally end 6 years of volatility compression with a massive decompression that could send prices vertical in a similar fashion as what we saw in 2018. Best case scenario TRX is over $10 next quarter, but at minimum we should go to at least $1 next quarter and then could hit $10 later this year or next year.
KRAKEN:TRXUSDLong
by Intuit
4
TRX Bullish Bias (Monthly)TRX Price $0.133197 TRON ROI 6909.8% Market Cap $9,544,890,728 Market Cap Dominance 0.38% Trading Volume $5,067,746,034 Another coin that fell off many people's portfolios after the broken hearts and lack of movement after the 2017 hype. Here are a couple of my proposed scenarios. In order for me to maintain a longer time bias to the upside and to maintain the structure, any retrace would need to maintain the support above the .50 retrace at minimum. Watch for either a sharp rejection after median hit; or if price hovers for weeks, and depending on market sentiment as a whole, bullish bias to increase with targets at upper parallel. More detailed charts will be posted in due time. Remember : Bullish above median, and typically bearish below. Schiff and Modified are practically identical in structure (owing to passage of time). But Original has maintained structure and is not a problem as of yet. However, Original PF would put price moving much more quickly and a median at ~30-70. Highly improbable. Hence, the favoring of the modified/schiff variations. Watch for signs of weakness. See below
BINANCE:TRXUSDLong
by AvenueWork
46
Potential Bull Market Continuation (Elliott Wave)After reassessing the wave structure on TRX with Glenn Neely, particularly the structure which began at the high in 2021 up until now, it seems to indicate that we are in a complex correction which began with a triangle and is now ending with a diametric. If this is correct, TRX should be beginning the next phase of the bull market now. This would mean that we see a move up to at a minimum over $1, and on the higher end could go over $10. This should happen over the next year. To confirm this assessment, we should see a very strong move up this quarter, ideally about as strong as the red box that is drawn on the chart. Regardless of if we get a huge bull market here or not, it does seem like we should see some modest upside at the least. It's always much easier to see a top or bottom forming in real-time than it is to try to accurately predict the exact price any asset will be at some point in the future, and right now it seems like we have formed a bottom. With inflation beginning to tick up again, this could be the rising sea that lifts all boats. Combine that with a steady and increasing burn rate on TRX and we could see some very high prices for TRX in the future.
KRAKEN:TRXUSDLong
by Intuit
5
TRON Burns 9.9 Million TRX Tokens TRON ( CRYPTOCAP:TRX ) executed a substantial token-burning event on February 14th. The initiative saw the elimination of 9.9 million CRYPTOCAP:TRX tokens from circulation. This decision aligns with TRON’s commitment to implementing deflationary measures and fostering value growth within its ecosystem. The token burning event has already shown tremendous impacts on CRYPTOCAP:TRX price and market dynamics. Following the burn, CRYPTOCAP:TRX experienced a noticeable shift in price, reflecting investor sentiments towards the scarcity of $TRX. This move concurs TRON’s proactive approach to managing its token supply and enhancing the overall value proposition for its stakeholders. TRON’s current market data reveals its standing within the cryptocurrency landscape. At the time of analysis, CRYPTOCAP:TRX is trading at a price of $0.13131 with a market cap of $11,460,558,876. The 24-hour trading volume stands at $335,101,295, showcasing significant market activity. With a circulating supply of 88,066,863,814 CRYPTOCAP:TRX and a total supply matching that figure, TRON exhibits stability in its token distribution. TRON’s recent initiatives, particularly the token burning event, reflect a strategic approach towards managing its token economics. By reducing the circulating supply, TRON aims to create scarcity and rigorously drive up the value of $TRX. However, the long-term implications of such measures remain to be seen, as they depend on various factors including market sentiment and adoption. In terms of its position in the cryptocurrency market, TRON holds a noteworthy ranking, currently standing at number 12 in terms of market cap according to Coinmarket Cap. Technical Analysis CRYPTOCAP:TRX has been in an ascending trend. This February 2024, the asset has risen by 15%, reaching a new annual high beyond the $0.131 mark. It's currently difficult to pinpoint any resistance level capable of curtailing this robust buyer momentum. The market might first respond to sellers around the $0.133 and $0.136 levels. Nevertheless, without unexpected negative developments, these thresholds are also at risk of being swiftly surpassed, thus becoming irrelevant. Therefore, engaging in short positions for this asset is generally discouraged. If CRYPTOCAP:TRX undergoes a correction, the zones at $0.121–$0.124 and $0.117–$0.120 are seen as potential areas for buyer orders, making them suitable entry points for long positions. A shift to a downward trend could only realistically occur if Bitcoin falls below $44,500 eventually.
BINANCE:TRXUSD.PLong
by DEXWireNews
Tron breakout has been climbing my dotted measured move lineEver since it broke up from the cup and handle pattern that I posted a chart about a week or 2 ago price action has been climbing the measured move line like a staircase this whole time so far. Always a remarkable thing to witness imo. You cant really get a good view of how it has been climbing this line on the previous chart idea I posted on it because its all the way zoomed out to show just how high the end target of this dotted line goes, and I think it. May have also been on the weekly timeframe where as this chart here is showing the daily and is more zoomed in to properly illustrate how price will often climb the measured move line after validating a breakout. So far this is a text book example of such behavior. Hopefully it continues to do so. I will post a link to the previous Tron idea with the more zoomed out look at the chart below as well. *not financial advice*
BINANCE:TRXUSD
by DrDovetail
2
TRX Price Eyes $0.20 With This Breakout RallyHigh Momentum Bullish Trend: TRX displays a strong bullish trend with an overhead resistance trendline breakout. Rounding Bottom Reversal: The recovery trend in the weekly chart indicates a rounding bottom reversal, aiming to surpass a 3-year high. Potential to Reach $0.20: A bullish breakout could fuel TRX's price to hit the $0.20 mark. Recovery from $0.050: Following a correction phase in 2022, TRX has been on a reversal rally for the past 15 months. Anticipation of Altcoin Season: Rising expectations for an altcoin season could significantly boost TRX's price. 151% Rise Since November 2022: TRX's price has risen by 151% from its low point in November 2022. Neckline at $0.12 Mark: The rounding bottom pattern's neckline coincides with the 78.60% Fibonacci level. Current Trading Price: TRX is currently trading at $0.1244, with a 2.80% intraday growth. Technical Indicators - RSI and EMA: The RSI is nearing the overbought territory, and the EMAs show a bullish alignment. Bullish Trend to $0.15 and Beyond: Maintaining dominance above $0.10 indicates a possible rally to $0.15 and potentially $0.20. Risk of Reversal to $0.10: A reversal from the $0.12 mark could lead to a price drop back to $0.10.
BINANCE:TRXUSDLong
by Coinpedia-Market-Insight
Tron is above the neckline of a long standing logchart C&HStill working on a weekly candle close above the rimline of this cup and handle and also the top trendline of an even bigger symmetrical triangle pattern seen here on the logarithmic weekly chart. The smaller and more realistic potential breakout target here is for the cup and handle pattern, the one that’s al the way up at $23 is the target for the symmetrical triangles breakout. Seems improbable that Tron could somehow reach a price as high as $23 when considering how sketchy Justin Sun has seemed over the last few years but that is indeed what the chart reveals. I think the smaller cup and handle breakout target is much more probable. For now though we still don’t even have a weekly candle close above the rimline yet, so before getting too excited about Tron s price action I’d need at least 1-2 weekly candle closes above that trendline…maybe even 3-4. Something to keep an eye on here. *not financial advice*
BINANCE:TRXUSD
by DrDovetail
4