Market Summary

TRX/USDT is in a short-term downtrend with price testing key support at 0.2845, showing oversold conditions on the 15m timeframe that could trigger a bounce, but bearish momentum remains dominant.

Market State

Price is consolidating near immediate support with bearish alignment on the 1h timeframe (price below EMAs) and oversold RSI on 15m suggesting potential reversal, driven by recent volume spikes and declining momentum.

Key Levels

• Resistance: 0.2852, 0.2855
• Support: 0.2845, 0.2844

Scenarios

Bullish Scenario If price holds above support at 0.2845 and breaks resistance at 0.2852 with increased volume and RSI recovery above 30 on 15m, upside targets are 0.2855 and 0.2860. This is supported by oversold RSI (29.78 on 15m) and bullish Supertrend, but contradicted by bearish ADX and EMA alignment on 1h. Confirmation requires a close above 0.2852 on the 15m candle.

Bearish Scenario If price breaks below support at 0.2844, it could extend the downtrend towards 0.2839 and 0.2835, fueled by bearish ADX (minus_di > plus_di on 15m) and price below EMAs. This is supported by signal summaries showing sell dominance, but oversold RSI may limit downside. Confirmation needs a break below 0.2844 with sustained volume.

Current Lean Slight bearish bias due to price structure below key EMAs and ADX signals, but oversold conditions on 15m indicate caution; watch for a break below 0.2844 or bounce above 0.2852 to determine direction.

Trade Setup

• Direction: Neutral
• Confidence: Medium
• Key Levels: Support at 0.2845, 0.2844 | Resistance at 0.2852, 0.2855
• Watch: Break below 0.2844 for short entry or hold above 0.2845 with bounce for long entry.

Risks

• Invalidation: For short setup, if price breaks above 0.2858; for long setup, if price breaks below 0.2838.
• Warning: Conflicting indicators between timeframes increase volatility; use tight stops and monitor volume closely.