$TRX TRON Trading Tips👇
1. Short-Term Trading Strategy (Day Trading)
Entry Point: Since TRX's 24-hour range is $0.1659 - $0.1676, look for entry around the lower end of this range, close to $0.166.
Exit Strategy: Sell at or near $0.1675 or higher. The small spread might be limited but could be worthwhile for high-volume trades.
Risk Management: Set a stop-loss close to $0.1655 to avoid significant downside, especially given the current slight decline in market cap.
2. Mid-Term Trading Strategy (Swing Trading)
Support Level: TRX’s monthly low ($0.1659) can act as a strong support level. Aiming to buy near this level could be beneficial for swing trading.
Target Prices: Aim for a price range of $0.170 - $0.172 in the next few weeks, given the recent 7.1% rise over the last 30 days. Consider locking in profits once TRX nears $0.17, unless momentum suggests otherwise.
3. Long-Term Positioning
Fundamentals and Growth Potential: TRX is up by 67.8% over the past year, showing strong resilience and growth. With a high circulating supply and no maximum cap, inflation might impact its price, so gradually accumulating when prices dip near historical support levels (e.g., around $0.16) could be ideal for holding.
Target: Hold for the next cycle aiming for historical resistance levels or the all-time high at $0.30 as a long-term goal if overall market conditions improve.
4. Volume Considerations
The drop in 24-hour trading volume (-35.06%) could indicate reduced interest, so be cautious of potential volatility or price drops. Watch for an increase in volume as a signal to strengthen positions.
