Lokesh Gupta
07-02-2024
Tron's price action has breached the neckline of the rounding bottom pattern at the $0.12 mark, coinciding with the 78.60% Fibonacci level.
The recovery trend is indicating a rounding bottom reversal on the weekly chart, potentially surpassing the price levels of the past three years.
The uptrend signaling a bullish breakout suggests a possibility for $TRX price to reach $0.20.
Tron's price is currently experiencing a strong bullish trend, marked by a breakout of the overhead resistance trendline.
A bounce from the 200-week EMA suggests a stronger uptrend anticipated in the upcoming days.
Dominance of buyers above the psychological mark of $0.12 indicates a high likelihood of a bullish trend towards $0.15.
As per Coingabbar analysis, Sustaining the bullish momentum could potentially drive the uptrend towards the $0.20 mark.
KEY LEVELS :
RESISTANCE LEVEL : $0.1800-$0.2200
SUPPORT LEVEL : $0.1000-$0.0800
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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