TRON is the gift that keeps on giving! Some fundamental analysis
Of all the altcoins recently, tron has been not only holding it's ground but continuing to gain ground while other big coin breakouts have already dipped back down. It exceeded it's projected breakout price target from it's cup and handle pattern days ago, and has since then almost tripled that projected breakout! It seems content on continuing to rise as well. Now that we have no obvious chart patterns to give us an idea of where it will finally dip back down, and the Stoch RSI seems to suggest it still has a little wiggle room to continue upward a bit it's best to examine things going on in the world of TROn on a more fundamental level. First and foremost is their mainnet launch slated I think for May 31st. People are filling their bags with TRX in anticipation of this date and with most release dates the price tends to gradually increase as the date nears and then on the day of it seems a lot of people tend to take their profits and it dips a bit at that point. This will likely also be the case once we reach their main net release date so be prepared for that...it's very similar to the buy the rumor sell the news approach most traders have employed for many decades in other markets.
Another thing increasing the demand for TRX is the constant, ever-prevailing rumors that TRON will be partnering with Alibaba, which are now resurfacing once again in the google news feed. This too could be one of those buy the rumor/sell the news situations which, in this case the only reason you'd have to sell the news is if news came out that ALibaba had decided to partner with another crypto other than TRON. If Alibaba did partner with TRON that is one situation where you would want to buy the news because it would be huge. There are as of now, no solid evidence to point to a definite partnership between the 2, only speculation....but the connections between Justin Sun(creator of TRON), some of his fellow employees, and Jack Ma(Creator of Alibaba), are very much worth considering and can not be overlooked. This article on global coin report does a great job laying out those connections:
globalcoinreport.com...-with-tron-trx-soon/
lastly, it's fundamentally important to factor in a couple other big upcoming dates for TRON which this article does nicely as well:
ethereumworldnews.co...-dates-for-tron-trx/
Because of all this and the still very green priceaction, I am still for now quite bullish on TRON, but may consider shorting a fractional amount once the Stochastic RSI indicates it's going to be turning back towards the downside. Whether or not you choose to go in on TRON should be completely your own decision as this is not meant to be taken as financial advice. Best of luck and thanks for reading!
Another thing increasing the demand for TRX is the constant, ever-prevailing rumors that TRON will be partnering with Alibaba, which are now resurfacing once again in the google news feed. This too could be one of those buy the rumor/sell the news situations which, in this case the only reason you'd have to sell the news is if news came out that ALibaba had decided to partner with another crypto other than TRON. If Alibaba did partner with TRON that is one situation where you would want to buy the news because it would be huge. There are as of now, no solid evidence to point to a definite partnership between the 2, only speculation....but the connections between Justin Sun(creator of TRON), some of his fellow employees, and Jack Ma(Creator of Alibaba), are very much worth considering and can not be overlooked. This article on global coin report does a great job laying out those connections:
globalcoinreport.com...-with-tron-trx-soon/
lastly, it's fundamentally important to factor in a couple other big upcoming dates for TRON which this article does nicely as well:
ethereumworldnews.co...-dates-for-tron-trx/
Because of all this and the still very green priceaction, I am still for now quite bullish on TRON, but may consider shorting a fractional amount once the Stochastic RSI indicates it's going to be turning back towards the downside. Whether or not you choose to go in on TRON should be completely your own decision as this is not meant to be taken as financial advice. Best of luck and thanks for reading!