TRX is forming a classic Head & Shoulders pattern on the 1-hour timeframe — a structure often hinting at a trend reversal from bullish to bearish momentum.🔹Left Shoulder: Formed near 0.3005, showing the first local top.
🔸Head: Peaked around 0.3030, marking the highest point of the current uptrend.
🔹Right Shoulder: Developed at 0.3000, slightly lower, confirming momentum loss.
🔸Neckline: Around 0.2970–0.2980, acting as the critical support and trigger zone.
If the neckline breaks below 0.2970 with volume confirmation, we could see a downside target toward 0.2920–0.2880, aligning with prior horizontal supports.
🎯 Key Levels to Watch
Immediate Support: 0.2970 (Neckline)
Downside Targets: 0.2920 / 0.2880
Invalidation Level: Above 0.3025 (Head zone reclaim)
If #TRX loses neckline support, short-term correction may deepen — but reclaiming 0.3025 would negate the pattern and restore bullish bias.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.