TRX 0.3353, 4H bottom probe and pullback, 0.3318 determines direction
Market: 4H probed the bottom at 0.3318 and quickly pulled
back to 0.3353, forming a long lower shadow. 24H high/low range is very narrow (0.3338-0.3366). Overall, it's in a consolidation and recovery phase after the pullback from the 0.3375 high. Volume hasn't significantly increased, not a one-sided acceleration, leaning towards consolidation.
Key Levels:
Support: 0.3338 (24H low/opening price), 0.3318 (previous low/long lower shadow low)
Resistance: 0.3356 (rebound high), 0.3366 (24H high), 0.3375 (swing high)
Breakout target: 0.3100
Objective Scenarios:
1. If 0.3318 is effectively broken and not reclaimed watch for 0.3336 to fail, then short towards 0.3100.
2. If 0.3318 holds and rebounds expect resistance around 0.3366-0.3375. If it breaks above 0.3336, weak momentum turns into consolidation.
3. If neither breaks nor holds narrow range consolidation between 0.3318-0.3375.
Trading View (My position: short at 0.3336):
Holding short position at 0.3336, first target is 0.3318. If broken, look towards 0.3100. Defend at 0.3366. If it breaks.
above, take partial profits to manage risk. Lock in floating profits, don't chase shorts at low prices, wait for resistance on a rebound.
Core: 0.3318 is the watershed. Break it and short towards 0.3100; if it doesn't break, guard against a fakeout and hold steady, don't panic
$TRXUSDT
Market: 4H probed the bottom at 0.3318 and quickly pulled
back to 0.3353, forming a long lower shadow. 24H high/low range is very narrow (0.3338-0.3366). Overall, it's in a consolidation and recovery phase after the pullback from the 0.3375 high. Volume hasn't significantly increased, not a one-sided acceleration, leaning towards consolidation.
Key Levels:
Support: 0.3338 (24H low/opening price), 0.3318 (previous low/long lower shadow low)
Resistance: 0.3356 (rebound high), 0.3366 (24H high), 0.3375 (swing high)
Breakout target: 0.3100
Objective Scenarios:
1. If 0.3318 is effectively broken and not reclaimed watch for 0.3336 to fail, then short towards 0.3100.
2. If 0.3318 holds and rebounds expect resistance around 0.3366-0.3375. If it breaks above 0.3336, weak momentum turns into consolidation.
3. If neither breaks nor holds narrow range consolidation between 0.3318-0.3375.
Trading View (My position: short at 0.3336):
Holding short position at 0.3336, first target is 0.3318. If broken, look towards 0.3100. Defend at 0.3366. If it breaks.
above, take partial profits to manage risk. Lock in floating profits, don't chase shorts at low prices, wait for resistance on a rebound.
Core: 0.3318 is the watershed. Break it and short towards 0.3100; if it doesn't break, guard against a fakeout and hold steady, don't panic
$TRXUSDT