Is TRX Heading for a Bullish Surge? Critical Resistance in Sight
2024-12-04

BINANCE:TRXUSDT  shows promising momentum on the 1-hour chart, with recent price movements revealing bullish tendencies. The pair has been steadily climbing, breaking through key levels and showing strength. Traders are closely monitoring the resistance level at 0.4334, which, if breached, could signal further upward movement. On the downside, immediate support is seen at 0.2309, with stronger support lying at 0.2111 and 0.2072.

The 9 EMA trending above the 20 EMA indicates short-term bullish momentum. The MACD histogram, while narrowing slightly, remains positive, suggesting that buying interest continues to dominate. RSI values hovering in the overbought territory reflect strong demand but also warn of potential profit-taking. Long traders might consider entries near retracements to the 9 EMA, targeting resistance levels, while short traders could capitalize on price reversals near overbought RSI conditions or resistance zones.
