Note gray primary wave 2 circle at bottom of chart (red arrow). Another way to see TRX is that we completed wave 2 primary and we are headed MUCH higher ($90 area for primary wave 3 circle) in the next 1-3 years.
The outlook has not changed...other than the placement of the converging lines and timeline. See previous post.
Whether this is an Ending Diagonal or not, this all looks like a corrective move down for wave 2 circle.
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TRX has fallen back within a descending triangle that is getting tighter as we move down.
Last month, the price hit the top resistance of the triangle and plummeted through the $0.018 support and bouncing hard off at $0.012. The bounce was enough for TRX to nearly get back to $0.018 but was denied and has since fallen back to $0.015.
Considering the stochastic...
Tron seems to have completed a contracting triangle or a diametric Neely-Elliott Wave pattern. This is confirmed by price, time, structure, complexity, and channeling rules. It also integrates into the larger and smaller time frames. The post-corrective thrust has fully retraced wave-g faster than wave-g was formed, and it has also broken out of the contracting...
. Tron/US Dollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
. There is a possibility...
I know there is a lot of hype around this project. And I rarely say "This project makes no sense and will not succeed.", with a strong bias.
But when we look at the pricing and where we have seen bounces, we can clearly see that there is a long ways down to go. We have not found any real support yet. The WEEKLY Stoch RSI has started it's fall. It's going...
Currently ranked number 9 by market cap, Tron’s entire circulating supply is valued at $1,610,975,627. The coin is trading at 0.024 against the US Dollar having lost about 3.26% over the last 7 days. After failing to break $0.028 resistance Tron has been trading almost sideways, albeit with a bearish bias, and now below a key bullish trend line.
For the time...
The updated wave count for Tron (TRXUSD) from January 21st still stands. Although the timing I proposed was a bit ambitious, the wave count is holding up beautifully.
Here is what you are looking at:
1. Red vertical lines: Time cycle beginning at the low of .01216364 on December 7th, 2018 and ending on December 24th. On this 4 hour chart, that is 103 'bars'...
Welcome back to my latest TRX Update, Here We Go:
The 0.02200 Long Target hit with room to spare (I have included previous analysis on 3/1 for comparison). TRX's movement followed my charting channel from the bear flag very well (blue and black dotted lines) and with considerable accuracy, I was able to update and enter slightly lower at 0.2120,...