TRX is currently breaking out of a resistance. I am bullish on this coin for a number of reasons both in Technical Analysis and Fundamental Analysis. Let's take a look at the TA first.
Technical Analysis:
- Currently breaking out of resistance.
- If we are quickly rejected off of the horizontal resistance that is slightly above the first resistance, it would be continuing an ascending triangle. In this case I would be looking to add more around 800 satoshi on support.
- Stoch RSI and RSI are both pretty high, which makes me think that we could get rejected here. I entered with a small position just in case the run busts through all resistance.
Fundamental Analysis:
- We all know that TRX is one of the biggest cult coins out there. When it pumps, it pumps hard. This allows for a high upside and potential for profit.
- Mainnet launch by the end of the month.
- New website coming.
I am long on TRX.
Technical Analysis:
- Currently breaking out of resistance.
- If we are quickly rejected off of the horizontal resistance that is slightly above the first resistance, it would be continuing an ascending triangle. In this case I would be looking to add more around 800 satoshi on support.
- Stoch RSI and RSI are both pretty high, which makes me think that we could get rejected here. I entered with a small position just in case the run busts through all resistance.
Fundamental Analysis:
- We all know that TRX is one of the biggest cult coins out there. When it pumps, it pumps hard. This allows for a high upside and potential for profit.
- Mainnet launch by the end of the month.
- New website coming.
I am long on TRX.
Comment:
TRX looks to have been convincingly rejected from the horizontal resistance. I expect TRX to consolidate possibly to the ascending triangle support and then continue the journey up as we get closer to their mainnet launch.
Comment:
I have buy orders at around .00000800
Comment:
You can tell that the sentiment is very bullish on TRX becuase it is holding up extremely well with these market-wide dips and is still filling out the ascending triangle. This trade looks like it is going to work out beautifully.