(1) This is a that captures Tron’s price action between May 12, 2018 and July 12, 2018. The chart pattern is (albeit not 100% of the time). Termination of the falls on the major for Tron that is discussed next.
(2) March 18, 2018 (not shown here), July 13, 2018 and July 18, 2018 are used to draw the major for Tron. At least 2 points required to draw a therefore means that the as drawn is valid.
Expectations would be for Tron to find support at the and price resume action. However, a close below ~0.00000509 would imply further move to the downside as that would mean a breach of not only Tron’s major , but also the current consolidation in price action.
The dotted black line indicates a in Tron established from ~June 19, 2018 to July 18, 2018. It is important to note that the intersects a horizontal region of overhead supply (i.e. resistance) therefore increasing the odds that sellers currently dominate between 0.00000629 and 0.00000588 as indicated on the chart.
(3) The ( ) as shown here has a positive rising slope which implies potential action for Tron. However, this is negated by momentum on the Weekly tf.
Based on the observations above, this analysis favors a consolidation at best for Tron with further downside (sell) awaiting Tron ( TRX/BTC ).