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TRON / BUSD TOKEN on BSC (B5D108...A75146) in USDTRON / BUSD TOKEN on BSC (B5D108...A75146) in USDTRON / BUSD TOKEN on BSC (B5D108...A75146) in USD
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TRON / BUSD TOKEN on BSC (B5D108...A75146) in USD

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TRXBUSD_B5D108.USD trade ideas

Tron(TRX) Looks Primed For Growth Ahead!Over analyzing the Tron (TRX) on weekly analysis, the crypto appears to have shown a good price structure. The recent price action highlights the breakout of the symmetrical triangle upwards. The crypto asset that has ranked 12th on the CoinMarketCap website has unlocked its 100% circulation from a total supply of $87.207 Billion TRX. After the consolidation ended in Feb 2021, the Tron (TRX) jumped 550% by April 2024, which marked a great push for the upside from bulls. After seamless efforts made by bears, the bulls did not allow the price to be below $0.050 critical support and had been trying to surpass the previously formed supply at $0.1439.
BITFINEX:TRXUSDLong
by Sam_TCR
the symmetrical triangle narrowed wedgeTron was forged by a popular entrepreneur, H.E. Justin Sun, also known as the founder of Tron. It has multiple use cases, with the main one being the transaction fees on the Tron blockchain. Recently, H.E. Justin Sun retweeted a post of the Token terminal, that showcased a growing graph of monthly fees since launch and that it surged from Jul 2020 and has been at its peak by mid-2024. The post also conveyed that the Tron (TRX) appears to be on track to generate a whopping $1.65 Billion in transaction fees over the next 12 months. Moreover, Tron (TRX) crypto surged by 0.36% in market value and surged by 0.95% in trading volume in the last 24 hours, as per the coinmarketcap. Its market value stands at $10.212 Billion, and its trading volume amounts to $218.312 Million. When writing, it ranks 13th among the top 100 cryptos on CoinMarketCap, and there are 87.251 Billion TRX in circulation. The Volume-to-market cap ratio highlights weak liquidity, which is often seen as a trait of a less liquid and would most likely present less stable market charts. A recent daily chart shows that the Tron (TRX) price has shown a resurgence possibility from the $0.1090 price mark, which is exhibiting a 0.43% intraday growth on the daily chart, with the price traded at $0.1174. The TRX past price structure shows a long bullish rally from Nov 2022, the support level of $0.050 to a peak recorded of 0.1439 by Feb 2024; it showed a steady and consistent growth of 220%. After the rally, the price showed exhaustion, as it failed to surpass the main supply zone; the bulls lost to bears and ended up in a narrowing range that looked most similar to a pattern called a symmetrical triangle. The lower boundary and upper boundary of the narrowing wedge show the 4 notable touches, which proves it to be a symmetrical pattern, and the 4 touches were at the $0.1090 price mark. What the market needs is a big liquidity candle that could give a massive breakout toward the higher levels. However, if the price continues to trade within the pattern and goes for the decline with the bears dominating, the price could demonstrate a breakdown as well. TRX Price Forecast, And Indicators Overview! According to the symmetrical triangle narrowed wedge, if the price breaks down, then the bears could eye for the supports of $0.09500 and $0.08500. However, if breakout happens, then the price could aim for $0.12800 and $0.14390. Technical indicators PoV shows that the price has been in a low moment and trading between 50-day, and 200-day EMA's. Meanwhile, RSI has rebounded after hitting an oversold reign, but at the 50.83 median line, signifying there is no strength in momentum and depicting consolidation. MACD highlights a bullish cross with a histogram rising at 0.000273.
BITFINEX:TRXUSDLong
by Sam_TCR
Tron displaying a strong bullish urgeThe Tron Crypto enjoyed an upward trend from the beginning of January 2024, starting at a support level of $0.10250 and reaching a high of $0.14450 by February 27th, 2024, when the candle finally closed at $0.14250. However, things changed from the last week of February 2024 as the Tron price plummeted and broke the earlier uptrend by entering a downward wedge. Despite this downward movement, the Tron crypto has recently shown signs of recovery since it rebounded from a well-established support level of about $0.10500 on the chart. The breakout of the falling wedge pattern suggests that Tron Crypto might begin an upward trend by breaking the resistance level and reaching new heights from the current price level. The Tron asset has started a remarkable climb, displaying a strong bullish urge in its strength by forming back-to-back bullish candles during daily sessions on its charts. It has also remained above the significant 20-day EMA and has been approaching the 50-day EMA band from below. The MACD also indicates a robust bullish crossover, with a histogram at 0.00120, the MACD line at 0.000070, and the signal line at -0.001133. Also, the RSI is moving higher with more speed, suggesting that the Tron crypto asset is not yet overbought since it is at 52.51 and can maintain its upward direction. Overall chart analysis indicates that the Tron crypto asset shows bullish characteristics and may reach higher levels by continuing its ongoing breakout on the daily chart. It also displayed excellent performance the previous week with a 5.19% increase, suggesting a robust upward spike and the potential to retest the supply level at $0.14250. At press time, the Tron crypto trades at $0.1182, with an intraday loss of 0.82%, a 24-hour trading volume of 415.30 million, and a market capitalization of 10.34 Billion. If the price continues to attract more buying interest, it could achieve higher targets at $0.13000 and $0.14000. However, a failure to sustain support at $0.10500 may cause price gains to drop and hit lower support levels.
BITFINEX:TRXUSDLong
by Sam_TCR
1
ron crypto has displayed a sign of revivalThe price performance of Tron highlights a good performance on the chart in the quarter by 12.11% respectively. But, this week's and month's performance was not good as it deteriorated with a -5.79%, and -13.91% respectively, its price dropped to form a support at $0.110. The Tron asset is showing bullish traits and is experiencing a minor decline of -1.35 % in the last 24 hours, currently trading at $0.118, this displays that it can achieve more growth in the coming session. The recent price structure of Tron crypto has displayed a sign of revival as the price showed a spike from a critical level of around $0.110 on the chart. The TRX asset is showing bullish strength and rising potential as it is on its way to cut the 20-day EMA and 50-day from below. In the same way, the Tron asset shows positivity as the histogram is declining, which is causing the gap between MACD and the signal line to converge. Likewise, the RSI displays a u-turn in its curve, suggesting that the TRX asset has more room to grow, as it has crossed 14-SMA from below, these conditions signify bullishness. Therefore, if the demand for the Tron asset price rises, it could bounce back from the current level. The next target for the price is to reach $0.126, and $0.132. However, if the TRX crypto price fails to stay above the $0.110 level, it could decline further, and breaking this support will lead to lower depths.
BITFINEX:TRXUSDLong
by Sam_TCR
💡Don't miss the great buy opportunity in TRXUSD @justinsuntronTrading suggestion: ". There is a possibility of temporary retracement to the suggested support line (0.1230). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . TRXUSD is in an uptrend, and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 71. Take Profits: TP1= @ 0.1299 TP2= @ 0.1361 TP3= @ 0.1415 TP4= @ 0.1482 TP5= @ 0.1557 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITFINEX:TRXUSDLong
by ForecastCity_ME
1