Tron (TRX) reached a new peak on the 30 April @ 1083 satoshis, from which level started a retrace. Right now, different chart indicators and signals are telling me that Tron has found support.
Look at the chart above and nothice:
- The price decline starting the 30th April. From there we went down fast until bouncing from the 829 saothis level (about 24% drop), this happened on the 5th May. After that, a small bounce and sideways until now.
- Look at the candles, as they are now, you can see a #1 on the TD Sequential. This is not a strong signal, but if we can break the EMA50 (magenta) line and close above it, it would signal strength.
- The fact that the EMA100 (blue) line wasn't touched is another signal that support is being found.
- The MACD is showing a bullish crossover.
- The RSI, DMI and STOCH are starting to cruve up.
Based on the information above, I can say that Tron (TRX) will consolidate longer until it gains enough momentum to start another run.
You can check my other two Tron trade ideas for a "buy in" range, to know when to buy in to trade this coin, as well as targets and other details.
You can find them in the "Related Ideas" section below this post.
Thanks a lot for reading.
And thanks a lot for your continued support.
Namaste.
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The daily chart:
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Tron (TRX) Upcoming Events
- Mainnet Launch (31 May). - Migration from ERC20 + Bittrex, BitFinex & Gate.io Support (21 June). - Super Representatives (26 June).
Trade closed manually
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Please check my other two Tron (TRX) trade ideas for buy in range and updates.
@Hermanubis, I've been looking at it. I'll do it when I feel is right, I am following many coins at the same time.
Chaceberich
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@alanmasters, EOS need your analyze
AlanSantana
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@Chaceberich, There has to be many trade ideas for EOS.
tahy59
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Hi alan thanks for fantastic comments and analysis do you think is good to buy now or should we wait little bit longer ?
AlanSantana
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@tahy59, You can wait a little longer if you like.
snisnik
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Awsome analysis Alan! For other analysis i saw and checking your charts I think we have a few more days before this sky rocket to the moon! But it seems that it will go up no doubt right?
AlanSantana
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@snisnik, Yes. It can take a few days but we are likely to continue the uptrend.