TRXUSDT is consolidating in a symmetrical triangle pattern.
Breakout is imminent.
Bullish ⬆️ - breakout above the symmetrical triangle's inclined resistance.
Bearish ⬇️ - breakdown below the symmetrical triangle's inclined support.
Possible price actions and targets are indicated by the arrows on the chart.
TRXUSDT is testing the descending triangle inclined resistance.
Bullish ⬆️ - breakout above the descending triangle inclined resistance.
Bearish ⬇️ - breakdown below the minor ascending trendline support.
Possible price actions are indicated on the chart.
if we stay above 0,0294$, we will see an outbreak towards 0,0316$ and 0,0338$ in the short-term.
if not, we expect it to retest around 0,026$. The Channel it is trading in, suggets an bounce back in this scenario and is one of you reenter prices.
The market has been on a mid-term uptrend since March 2020. The price action tested the ATH(all-time high) is approaching the trendline support + horizontal support. We could see a bounce off the support bullish ↗️. And a breakout below the support as bearish ↘️.