BINANCE:TRXUSD   TRON / US Dollar (calculated by TradingView)
This is going to be my first TRX' analysis ever :), until now i thought it was just an over hyped coin. I have been told that this coin was created in minutes and became worth 10 billion+. I clearly should have become a IT expert :). I remember from the hype, at least in my private surroundings, TRX' and XVG' were the most popular one among the people who got in during the Dec/Jan highs a year ago. So i always assumed it was just good marketing that got these coins pumped, nothing fundamental about it. But as long as marketing is good enough, the self fulfilling prophecy can take over and could in theory make it even an established thing.

Anyway, a lot of my members asked me lately to do an analysis on this one so here it goes. On the left we can see TRX' being clearly below a very important resistance level . Even after the market started to drop end of Dec, TRX' was one of the few who got another big pump. This could be manipulation, but this could also be a sign that there is a lot of interest from the market in this coin.

But now come the tricky part, when assuming this is a big inverse H&S on the left, the size of the right shoulder is already big enough in price and time. But based on that possible triangle and the fact that TRX' was less strong compared to the past 4/6 weeks, there is chance the triangle will break on the low side. But if the green zone there holds, the right shoulder can still be in play.
On the right it looks like a curved bottom and the green and red zones. I think the curved line will be a good indication of what the next step will be. Break of the red resistance should trigger a rally again from the looks of it.

So short term i would watch the green and red on the right, long term on the left.
Comment: TRX bulls failed to hold that curved trend, dropped and broke that small support as well. Looks like a few attempts to get back in failed as well so we are seeing some rejection now. This is not good, only hope i see now, is a quick return back above the blue curved line, otherwise we could see another drop again like the red line suggests

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On the contrary, no one in China has a good impression on the founder of trx. In 17-18, many times, the leeks have been cut, how many people have lost their lives, and they have to reluctantly cut meat. Many Chinese people are very disgusted with trx. I also don’t like one of them. The founder is doing it for foreigners and is not friendly to the people. The result is that it can be plunged at any time, and it is impossible to guard against it. The Chinese do not believe that trx is called a scam, so we can’t figure out why foreigners like it. , maybe marketing is doing well
botje11 youdamushi
@youdamushi, Thanks for sharing, China does play a big part in the crypto world, so if that is the consensus there, it's not a great sign for TRX
Thanks for sharing!
I think TRX is one of the best coins out there. Marketing is ALL you need in crypto, hence the 1500+ shitcoins that are now available through ICO's. Justin Sun is a marketing genius so I have high hopes for this coin just based solely on that alone. It might not hit prices of bitcoin but as it is gaining momentum with developers, it could actually be useful and therefore go up in price. At 2 cents I think it is a steal, time will tell.
botje11 HowToBuyBitcoindotnetdotau
@HowToBuyBitcoindotnetdotau, Marketing is very important indeed, but eventually the use case is more important. Indeed, time will tell :)
Awalys great insights! Thanks for sharing!
botje11 monguilhot
@monguilhot, Thank you and your welcome :)
Fundamentally, i know a lot of people who had the same opinion but developers are really liking Tron. The Dapps work really well i've been told and are gaining popularity. There needs to be more focus in this space on the technical data i think. The stats like user growth, tps is focused too much should be a factor though, developers, treasury balances in respective currencies, average value of transaction, among other things. Think those are going to be as close to fundamentals as we'll get with blockchains.
botje11 Silvertoe
@Silvertoe, Thanks for the info, appreciate that :). I am not a tech guy, so i don't understand the tech side of things, but i can judge the economical side of things. So it's safe to say that Tron is a more serious player now than a year ago right?
+2 Reply
Silvertoe botje11
@botje11, Yeah they've come a long way, Dapp devs and users are really liking it. Also it's popular with people younger than me (I'm 23), most of the kids that know btc are interested in trx.
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