Tron in a Pennant Breakout Pattern once Again.
Hey, I am back with another Technical Analysis, this time looking again at Tron.
It is reported, TRON will launch virtual machine on May 25, mainnet on May 31, token migration on June 21 and the first 27 super representative elections on June 26.
Last time TRON has drawn Pennant it looked like this -
Pennants are 50/50 bullish or bearish patterns.
Currently is RSI looking the same even MACD, can even this Pennant be bearish or bullish? I will keep you updated, I already have position in this Pennant and I hope, this time it will break upwards.
That was short about TRON, lets continue looking at Chart.
At current chart you can see a pretty run up created from rounding bottom, flag and Ascending Triangle, currently we are in Pennant.
1000 as a strong ressistance.
Taking look at Indicators
MACD has still some room to fall, in this case you can see that we are on downtrend from 967 but Tron has fall really only to current date only 25 satoshis, which is a good indication in Bearish MACD.
RSI is having tight battle to hold on the support level.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord Channel!
Hope I made your view on whats going on with TRON somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an update.
It is reported, TRON will launch virtual machine on May 25, mainnet on May 31, token migration on June 21 and the first 27 super representative elections on June 26.
Last time TRON has drawn Pennant it looked like this -
Pennants are 50/50 bullish or bearish patterns.
Currently is RSI looking the same even MACD, can even this Pennant be bearish or bullish? I will keep you updated, I already have position in this Pennant and I hope, this time it will break upwards.
That was short about TRON, lets continue looking at Chart.
At current chart you can see a pretty run up created from rounding bottom, flag and Ascending Triangle, currently we are in Pennant.
1000 as a strong ressistance.
Taking look at Indicators
MACD has still some room to fall, in this case you can see that we are on downtrend from 967 but Tron has fall really only to current date only 25 satoshis, which is a good indication in Bearish MACD.
RSI is having tight battle to hold on the support level.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord Channel!
Hope I made your view on whats going on with TRON somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an update.
Comment:
Oh, wow maybe the history will repeat again. TRON needs to see bounce, right now.
Comment:
It was a Bearish pennant, I am expecting to see oversold level.
Comment:
Double bottom RSI bounce.
Comment:
Tron acting strong, will it break the downtrend line?