TRXUSDT rather TRON's Plan to get new ATH!

2 Ara

TRON is currently showcasing strong bullish momentum, sitting atop an ascending trendline with signs of a potential breakout above the bear pennant formation. Here’s the breakdown:

Current Buy Zones:

1. FOMO Entry: From CMP (0.2111) if you’re bullish and expect a quick breakout.
2. Ideal Buy Zone: Between 0.206 to 0.203, offering better risk-to-reward as it aligns with the lower trendline and strong support zones.

Bullish Setup:

• Pattern: A bear pennant forming on top of an established uptrend often results in a breakout to the upside. TRON is respecting the ascending supports, indicating buyers are defending key levels.
• Volume Profile: Volume is building near the pennant, signaling the possibility of aggressive movement soon.
• EMAs (Exponential Moving Averages): Price is comfortably above the EMAs, with the 7EMA acting as immediate support.

Targets:

1. First Target: 0.22543 – This is the breakout projection of the pennant and a major resistance area.
2. Second Targets:
• 0.245 – A potential consolidation level if momentum persists.
• 0.31 – A stretch target if TRON gains strong bullish traction, aligning with historical levels of interest.

Risk Management:

• Stop Loss: Below 0.203 to protect from invalidation of the bullish thesis.
• A breakdown below 0.203 could signal weakness and negate this setup.

3 Ara

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Reached!!