TRON (TRX/USD) - The Strongest Coin On The Market!!

One of the strongest coins on the market is TRON'. Yes, it came down also pretty sharply as they all did but price action wise and technically it looks in very good shape. Some altcoins prints new 2018 low (ETC) some of them approaching the 2018 low levels but not TRON' it has far from the 2018 low point and it has multiple strong support before that level.

It could sound unbelievable but the current bounce came from new higher low (HL) area. This is a big statement and shows that Tron is 'healthy'. Besides that the bounce came from the new HL area, then there are also other criteria: the golden Fibonacci retracement level 62 percent and the trendline since June 19 which worked nicely as a support and after a breakout above the trendline on Oct. 4; we could say that this was a retest.

If the bounce momentum continues then the next resistance is the March low, the counter-trendline and the 200 EMA crossing area. If the price manages to push through from the mentioned levels then it is out of the danger zone and back above the 200 EMA and back above the major counter-trendline which will indicate that the momentum will continue and we go and retest the green area above the current price.

Here are dangers also, the resistance - crossing area - is pretty strong and if the market doesn't show that power to go upwards that it could mean we go and test the lower levels again and the major lower levels support are marked with red boxes.


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Trade closed: target reached