TRXUSD looks ready. The price has been in the descending triangle for a long time. Now it looks like it's ready for a breakout. Taking into an account very bearish sentiment in the whole crypto market, we expect that it will break down.
Targets are shown on the chart. We don't expect it to go to zero therefore targets are defined based on the historial key supports instead of traditional methodology applicable to trading descending triangle pattern.
Expect more FUD in crypto market which could be a trigger for a triangle to breakdown.
good luck
Comment
⋅
TRX is waiting for a catalyst. Once we see one, the price will start dumping. Patience required.
Comment
⋅
The price is testing the support again. A lot of sell pressure today . Expecting a break down.
I recently considered TRX cryptocurrency in my review too. Yes, such price decrease in the long-term trend is possible, but there must be dramatic reasons for it. So far, the negativity around huobi exchange (Justin Sun) has not had a significant impact on the price of this cryptocurrency.
@vf_investment, A triangle has equal sided lines. That's a falling wedge, but generally that's a bullish scenario because sellers get weaker and the buying sentiment is far stronger. We've hit bottom.
vf_investment
⋅
@Immortalsouls, ok . we will see :) . thanks for your comment
Gold-Tech
⋅
Whether you're right or wrong, the price will show in the near future. But I agree with you.
RLinda
⋅
I think you got the key elements right. Great perspective on the market)