#TRXUSD - is challenging the red line, where the 21- bar moving average lies. The BBs are tightening. #TRX is trading below the red cloud. The cloud signals bearish trending market and the lagging span is also below the candlesticks. TRON is far from a breakout on the daily chart. It still has a long journey, but it is warming up before the big jump. The cloud indicates a fat resistance protected by both the purple (144-bar) and the blue (55-bar) lines. This resistance zone gets confirmation by the Volume profile analysis. Once TRX is over the cloud, then it is out of the woods. Till then, the trades should be done with prudence, as $0.02 levels are the only significant support at the current levels. The breakout of the overhead cloud is the first indication of the breakout signal. Watch this closely. If #Bitcoin dips, then #TRX will be no exception. In this case, a sharp fall to $0.02 levels would be expected.
Very good multi month illustration. However on the short term it is still bearish:
InvestingScope
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KiaCryptiola
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Justin Sun Announces Tron’s Virtual Machine (TVM) Countdown For Launch. What would be its impact on TRX? Can TRX break the overhead resistance?
post your TAs here to discuss this idea. What are you thinking?