Hi Traders!
Tron (TRX) comes from China and we will take a closer look at it as it has a very nice chart. So we continue to analyze Chinese coins. We chose TRX deliberately because it hasn't yet performed anything and the graph indicates that this could change. NEO has already made strong growth, BNB and XLM are also keeping up nicely. This whole group of coins is Chinese coins.
Day chart
We are currently on strong support and something like a round bottom is beginning to form. We estimate it's the fourth wave. On the chart, we can again see a beautiful channel that has been broken. Thanks to Elliot's waves theory we know that the third wave always breaks the channel. It is a wave that is regularly the longest, has the highest volume and breaks resistance and trendline. This scenario suits the current situation. The chart is currently rounding up and we've seen several positive news by Justin Sun (Tron CEO) on Twitter, along with many signals from foreign groups. Globally, the chart looks really good.
Will Tron follow the growth of his Chinese colleagues? According to us, yes!
May the crypto be with you!
Tron (TRX) comes from China and we will take a closer look at it as it has a very nice chart. So we continue to analyze Chinese coins. We chose TRX deliberately because it hasn't yet performed anything and the graph indicates that this could change. NEO has already made strong growth, BNB and XLM are also keeping up nicely. This whole group of coins is Chinese coins.
Day chart
We are currently on strong support and something like a round bottom is beginning to form. We estimate it's the fourth wave. On the chart, we can again see a beautiful channel that has been broken. Thanks to Elliot's waves theory we know that the third wave always breaks the channel. It is a wave that is regularly the longest, has the highest volume and breaks resistance and trendline. This scenario suits the current situation. The chart is currently rounding up and we've seen several positive news by Justin Sun (Tron CEO) on Twitter, along with many signals from foreign groups. Globally, the chart looks really good.
Will Tron follow the growth of his Chinese colleagues? According to us, yes!
May the crypto be with you!