will tron reach $10, How High Can Tron Go?

TRX/USDT Weekly Timeframe Analysis

Hey Traders,

Don't worry about whether TRX/USDT will reach $10 or not, read these analyzes now and see if TRX/USDT will go up or down.

In the weekly timeframe, TRX/USDT has reached one of its key demand zones. This area has acted as resistance in the past, and now there are strong indications that the price could experience a pump. 

If the market moves higher from this supply zone, we expect a bullish reaction that could form a weekly hammer pattern emerging from the demand zone. This formation often signals an upcoming upward move, so keep an eye on this level.

weekly timeframe

Daily Timeframe Analysis

Switching to the daily chart, we observe additional signs of buyer interest:

• Demand Zone Activity: The price has reached a clear demand area where we see repeated rejections, indicating that buyers are stepping in.
• Hammer Candle Formation: A daily hammer candle has formed and swept liquidity, adding further support at this level.
• Semi-Satisfaction: The market appears to show a level of semi-satisfaction at this demand zone, reinforcing the possibility of a short-term pump.

daily timeframe

H4 Timeframe Consideration

While the weekly and daily charts suggest a potential bullish move, caution is warranted:

• Downtrend on H4: The H4 timeframe is currently in a downtrend, which could weigh on price action.
• Daily Bearish Channel: Be patient and wait for a break of the daily bearish channel before considering any sell trades. This confirmation is crucial to avoid false signals during consolidation.

Trading Strategy & Conclusion

Trading Strategy:

• For Long Entries: Watch for a confirmed breakout above the supply zone on the weekly chart and a clear bullish hammer formation on the daily chart. This could signal a pump.
• For Sell Entries: Do not enter a sell trade until the daily bearish channel is clearly broken, especially considering the H4 downtrend.

Conclusion: TRX/USDT shows signs of a potential upward move from its weekly supply zone with a weekly hammer from the demand area. However, the presence of a downtrend on the H4 timeframe means caution is advised. Wait for further confirmation—such as a decisive break of the daily bearish channel—before making any sell decisions.

Trade smart and manage your risk carefully!