Justin Sun... on the horizon.. Rising from the Resistance line!
Good morning folks,
For those of you who have been following me, you know I am a big fan of TRON. When played right, I truly believe it has one of the highest potential of making you wealthy.
The project is backed up by a strong team. Also, if you notice, there's always a spike in price as we get close to one of Justin's announced project deadline dates. We use this to our advantage in terms of day trading. However, this is just a fundamental analysis. This is tradingview and I should focus mostly on the technical analysis aspect of it. As you can see in the chart above, TRON has been very busy with the since the TEST launch on March 31st... creating a sideways channel that the resistance(0.00011 ETH) and the support(0.000077) lines have been tested TWICE. Today, we see a candle forming ABOVE the resistance line on the daily chart. Looking at it from the 4hr, and 45 mins chart, I also noted the pattern to be very BULLISH. Volume however, is a little bit on the lower side in comparison to previous spikes but I believe this is just an accumulation to reach a newer high for Q2. That can confirmed with the accumulation/distribution indicator, it is VERY bullish at the moment in the daily, 4hr, and 45 minute candlestick charts. The EMA and MA are also very bullish supporting this rise in price. TRON is currently 0.07 USD.
The assumption that we would reach the ATH from Dec 31st would be very ambitious but not impossible as we are having a "healthy" steady increase in price rather than having a spike of price increase.
Happy trading!
For those of you who have been following me, you know I am a big fan of TRON. When played right, I truly believe it has one of the highest potential of making you wealthy.
The project is backed up by a strong team. Also, if you notice, there's always a spike in price as we get close to one of Justin's announced project deadline dates. We use this to our advantage in terms of day trading. However, this is just a fundamental analysis. This is tradingview and I should focus mostly on the technical analysis aspect of it. As you can see in the chart above, TRON has been very busy with the since the TEST launch on March 31st... creating a sideways channel that the resistance(0.00011 ETH) and the support(0.000077) lines have been tested TWICE. Today, we see a candle forming ABOVE the resistance line on the daily chart. Looking at it from the 4hr, and 45 mins chart, I also noted the pattern to be very BULLISH. Volume however, is a little bit on the lower side in comparison to previous spikes but I believe this is just an accumulation to reach a newer high for Q2. That can confirmed with the accumulation/distribution indicator, it is VERY bullish at the moment in the daily, 4hr, and 45 minute candlestick charts. The EMA and MA are also very bullish supporting this rise in price. TRON is currently 0.07 USD.
The assumption that we would reach the ATH from Dec 31st would be very ambitious but not impossible as we are having a "healthy" steady increase in price rather than having a spike of price increase.
Happy trading!