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TRONIX (TRX) might break through 1000sats in 11 hours.

Updated

Not quite following the usual Elliot Wave downwards movement but keep in mind that corrections do not always follow the guidelines of Elliot Waves.
For now the price is following the projection neatly, will update once anything notable happens.

Note

Note: The textbox lists 0:00 as the breakthrough time, this is CET+1

Note

Update, price is fluxuating but still generally following the projection.

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Update 16:54

Price went down to the lower support line established at 01:00 last night and has now touched the lower projection curve.
Following the principle of regression to the mean, we should see a strong increase of the price within an hour or so.

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Update 18:00

Price went lower than the initial supportline, tricky situation since there doesn't seem to be any other supportlines in this region.

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Update 18:55

No visible in the chart, but the Stoch RSI is moving up towards the 0.5 line, indicating that the price of TRX is consolidating, if it moves up towards the other end of the spectrum (i.e 0.8) this could mean the price is moving up.

In short: higher Stoch RSI means more buying, less selling = higher price.

Note

Update jan 20 0:45

TRX failed to break through it's resistance threshold at 750 sats, resulting in a failure to match the project growth. With a mere hour on the clock remaining, it's highly unlikely that TRX will break through the 1000 sats ceiling.

Will update the chart after I've taken more details into account. Possible explanations:

- Sudden growth of other coins pulling away the attention.
- TRX might have moved up a fractal, resulting in growth and correction waves that take longer to complete.

Angev

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