Tron (TRX) has had a stellar performance this year, with its price increasing by 50% from its yearly low. While many cryptocurrencies with similar fundamentals are facing corrections, TRX has demonstrated resilience, making it a key candidate for a well-diversified portfolio, whether you’re an investor or a trader.

Additionally, since early September, TRX has experienced a corrective price decline, presenting a potential opportunity to buy at a discount.

Weekly time frame analysis

TRXUSD - 1 Week Time Frame

From a technical standpoint, Tron’s bullish market structure stands out. The price action is moving precisely within its extreme levels, creating clear support zones that further reinforce this upward trend.

A key area to monitor is the order block, which represents a shift in supply dynamics that occurred before the market reached a new peak. This block consists of several significant levels, with the most important being the opening price of the candle representing this block.

This level, marked in black on the chart, is an ideal entry point for buy orders. A stop-loss order should be placed just below the higher low within the market structure, as indicated by the lower blue line on the chart.

When to buy Tron?

If you're seeking a more precise entry, consider waiting for the price to first capture sell-side liquidity. Afterward, watch for an inversion of the fair value gap—this would indicate that the price has closed above resistance. In this scenario, a stop-loss order should be set below the internal low that forms before the confirmation gap.

TRXUSD - 1 Day Time Frame

For both entry strategies, the profit target is buy-side liquidity above the 2021 high. However, if you choose the more conservative approach, it’s recommended to hold part of the position to achieve a more favorable risk-to-reward ratio, as your stop-loss is positioned below the external low.

The support zones highlighted in blue and orange on the chart should remain open on the weekly timeframe. As the price reaches these zones, it is advisable to sell a portion of your position to reduce risk and increase the likelihood of success.

With Tron showing strong market structure and favorable entry points, this may be an opportunity to capitalize on a potential breakout, possibly surpassing its 2021 high. Keep these strategic levels in mind as you position yourself for what could be a significant move in the TRX market.