Good afternoon everyone!
The test mainnet launch news appeared to have stirred the bulls into pushing the price up. It peaked right on the date of its launch and went back down again.
However, if you are into technical analysis, this should not be an indication of buy but it should simply be utilized as a supplement to technical analysis. We always must find patterns!!
Personally, I find this coin to have the greatest potential despite of the FUD and FOMO news that surrounds its white paper issues.
Anyways, on to technical analysis. TRX has shown growth at the start of Q1 2018 until now by having higher lows. It dipped thrice, Feb 2, Feb 26, and Mar 15, before it broke through the 0.00006294 ETH resistance level. During Q1 2018, it formed an ascending triangle indicating a future breakout and it did. It had a healthy steady increase in price which could also indicate a healthy pattern where the support level will be. It looks like the support level will be sitting on the 20 EMA level, but this is a premature analysis. It can also be noted that TRX gets their price spike every end of a Quarter. With that said, will the Sun rise again on June 2018? Stay tuned!
The test mainnet launch news appeared to have stirred the bulls into pushing the price up. It peaked right on the date of its launch and went back down again.
However, if you are into technical analysis, this should not be an indication of buy but it should simply be utilized as a supplement to technical analysis. We always must find patterns!!
Personally, I find this coin to have the greatest potential despite of the FUD and FOMO news that surrounds its white paper issues.
Anyways, on to technical analysis. TRX has shown growth at the start of Q1 2018 until now by having higher lows. It dipped thrice, Feb 2, Feb 26, and Mar 15, before it broke through the 0.00006294 ETH resistance level. During Q1 2018, it formed an ascending triangle indicating a future breakout and it did. It had a healthy steady increase in price which could also indicate a healthy pattern where the support level will be. It looks like the support level will be sitting on the 20 EMA level, but this is a premature analysis. It can also be noted that TRX gets their price spike every end of a Quarter. With that said, will the Sun rise again on June 2018? Stay tuned!