FintechDaddy

TRON Trade Analysis: The Coin for Day Traders 36% Move

Long
BINANCE:TRXBTC   TRON / Bitcoin
TRX or Tron has been pumping on news that they launched a $100Mn fund for E-Gamers for their latest platform. Since then, they have been pumping close to 25%, with room for another move that could see a 36% move upwards. 

What do the Charts say? 

Bullish 

The higher time frames illustrate the 15MA and the 55MA are crossing-over within the next 24 hours, this could see a pump to 16% or the previous resistance at 429 Sats
Accumulation since the bounce at 0.618 and the rejection of a dump has seen accumulation pump. 
Buy side support has matched accumulation, indicating that many traders are entering this trade seeing a 16% move or a 36% move. 
MACD on the higher time frames illustrate that there is still momentum despite a cooling off period.
Bearish

A fall below the 0.618 fibonacci illustrates that 339 Sats is in play and that there will be a period of down-trend.
Nouvive Says: TRON appears to be in a long play that will see a net profit of 36% from current levels, a fall below the 0.5 Fibonacci at 339 Sats would make this play redundant. A take profit at 429 would net 16% profit with a take profit 504 Sats to fill the volume gaps would net 36% move. Those who are increasing their stops in profit should enter stops just below 429, with the view that the resistance at 585 can be taken looking for 70% profit just before christmas. 

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out