TRX has a verrrrry long consolidation phase within a broad trading range.
With a 70% upside to the trading range resistance, some short-term traders may be tempted to catch it, although looking at the charts fluctuations it seems like a gamble compared to other trading opportunities that may be available for other coins.
However, the big potential for a long-term swing trade comes when (if) TRX manages to break out of its range. There is a 300% to 640% upside to reach it's ATH.
We remain neutral for now but TRX may be one for the watchlist.
If we add TRX to the SparksterSignals backtesting toolkit (link below) we may find much shorter time-frame opportunities for historically reliable profit.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
With a 70% upside to the trading range resistance, some short-term traders may be tempted to catch it, although looking at the charts fluctuations it seems like a gamble compared to other trading opportunities that may be available for other coins.
However, the big potential for a long-term swing trade comes when (if) TRX manages to break out of its range. There is a 300% to 640% upside to reach it's ATH.
We remain neutral for now but TRX may be one for the watchlist.
If we add TRX to the SparksterSignals backtesting toolkit (link below) we may find much shorter time-frame opportunities for historically reliable profit.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.