Tron (TRON) Has Found Support (4 Hours Char)
Updated
Tron (TRX) reached a new peak on the 30 April @ 1083 satoshis, from which level started a retrace. Right now, different chart indicators and signals are telling me that Tron has found support.
Look at the chart above and nothice:
- The price decline starting the 30th April. From there we went down fast until bouncing from the 829 saothis level (about 24% drop), this happened on the 5th May. After that, a small bounce and sideways until now.
- Look at the candles, as they are now, you can see a #1 on the TD Sequential. This is not a strong signal, but if we can break the EMA50 (magenta) line and close above it, it would signal strength.
- The fact that the EMA100 (blue) line wasn't touched is another signal that support is being found.
- The MACD is showing a bullish crossover.
- The RSI, DMI and STOCH are starting to cruve up.
Based on the information above, I can say that Tron (TRX) will consolidate longer until it gains enough momentum to start another run.
You can check my other two Tron trade ideas for a "buy in" range, to know when to buy in to trade this coin, as well as targets and other details.
You can find them in the "Related Ideas" section below this post.
Thanks a lot for reading.
And thanks a lot for your continued support.
Namaste.
Look at the chart above and nothice:
- The price decline starting the 30th April. From there we went down fast until bouncing from the 829 saothis level (about 24% drop), this happened on the 5th May. After that, a small bounce and sideways until now.
- Look at the candles, as they are now, you can see a #1 on the TD Sequential. This is not a strong signal, but if we can break the EMA50 (magenta) line and close above it, it would signal strength.
- The fact that the EMA100 (blue) line wasn't touched is another signal that support is being found.
- The MACD is showing a bullish crossover.
- The RSI, DMI and STOCH are starting to cruve up.
Based on the information above, I can say that Tron (TRX) will consolidate longer until it gains enough momentum to start another run.
You can check my other two Tron trade ideas for a "buy in" range, to know when to buy in to trade this coin, as well as targets and other details.
You can find them in the "Related Ideas" section below this post.
Thanks a lot for reading.
And thanks a lot for your continued support.
Namaste.
Note
The daily chart: Note
Tron (TRX) Upcoming Events- Mainnet Launch (31 May).
- Migration from ERC20 + Bittrex, BitFinex & Gate.io Support (21 June).
- Super Representatives (26 June).
Trade closed manually
Please check my other two Tron (TRX) trade ideas for buy in range and updates.You can find them here:
And here:
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Live!)
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
lamatrades.com (Since 2017)
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.