Besides fundamental reasons of a massive forced liquidation sale caused by unsubstantial FUD and market manipulation being insanely bullish for Cryptos in general, TRX Is in a beautiful expanding triangle pattern. Both the rally over the last few months AND this correction over the last month are both expanding triangles.
This explains why the last wave down (wave-e) was so violent, because wave-e of an expanding triangle is always the largest wave. Also looking at the bigger picture, we've just completed Wave-D of a larger expanding triangle and now we're going to get Wave-E going UP, which is going to be much larger than the last two waves up we've had over the last few months. Wave-E will probably go to at least $1-2 this summer, potentially higher if we have a large blow off wave.
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Now that Wave-e is equal to 161.8% of wave-c and has retraced waves ABC 61.8% we've likely found the bottom and will begin quickly moving up from here.
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Very bearish triangle beginning to form here. Seems like we are going to head towards 3-4 cent range next week.
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This has not dropped as expected, and upon closer inspection Wave-a and Wave-c are too similar in price for this contracting triangle to be correct. SO it seems unlikely we will make a new low BUT we could see more consolidation as we wait for this wave to complete.
Luckily we're in at the same price we exited so nothing was lost.
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Looks like this is going to break down now. Going to stop updating these charts and go on vacation. Good luck.
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This new count is probably the better of the two. The expanding triangle count is now my secondary count, not eliminating it entirely but it seems less likely than the contracting triangle.
Hello , I 'll be grateful for you to answer my question in the comments section because I don 't have access to other sectors if tron get to over 10 dollars and if yes , exactly when and how much? Is it possible also $ 40 to $ 350 ?
@MOJI77, go ahead and calculate the market cap for these of those targets you mentioned, $10, $40, $350. And ask yourself is this is possible. If yes, in how many years. Targets like that are pure speculation. As much as I HOPE that Intuit is right with his prediction for this summer, it will depend very much on what BTC does, what the entire market does. If we reach $0.50 that would already be an extremely bullish target, even for September/October.
MOJI77
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@CryptoSenne, yes afcourse but these target what say intuit for us yeare a go
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@MOJI77, Yeah I remember that. I'm just saying that you shouldn't be asking anyone else a question like that because the only way to calculate extremely high price targets like that is by calculating what the market cap would be. Then you compare this to BTC, ETH, the total market cap and this should answer your questions. :)