Here's my long term Elliott Wave count on Tron. This is also the reason why I am so bullish on Tron. The increase since the beginning of April looks impulsive to me, not corrective. And even if it looks like a correction to $0,060 (worst case) in the short term, my price target is over $1 by the end of the year.
Prices below $ 0.052 would be very bad. This would negate the whole scenario.
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Here the 15min chart of a possible wave four.
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The TRX could form a falling wedge that completes the wave four. However, the pattern is still very fuzzy.
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It looks like a false breakout :(
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negative divergance in 1h Candle and RSI
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Short-term price gains possible
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It doesn't look so bad for Tron. Okay, the wave four is taking longer than I thought. But the scenario itself is still valid. The question is if the supports will hold. And more importantly, we can break the resistance upwards.