TRXETH: Wave 3 ending, Wave 1 incoming for Tronix?
Updated
I love TRXETH because the pair remained relatively stable throughout the downtrend even though TRXUSD can't tell the same story. Price is still holding great at around .000087 ETH, having gone above .0001 ETH in recent months. It's a long downtrend and the entire cryptosphere is full of fear, uncertainty and doubt. I believe current sentiment does not reflect the state of the market accurately, however.
The price is holding between EMA 13 and 21, a relatively positive signal as price has not fallen through EMA 55 which would be worse. Volume is low however.
To me it looks very clearly like five waves up were completed and I think we would all like to see a three wave correction. IF that is the case, given the price has been maintaining this level, this could be the bottom for the third correction wave. Will it retrace to the .618?
Can we expect another five waves up to finally leave the bears to hibernate?
I am long on TRX and do not plan on trading these levels. Despite the recent FUD, fundamentals on TRX are strong. Even though the company's roadmap has a long way to go, Tron is one of the more serious blockchain projects out there.
The price is holding between EMA 13 and 21, a relatively positive signal as price has not fallen through EMA 55 which would be worse. Volume is low however.
To me it looks very clearly like five waves up were completed and I think we would all like to see a three wave correction. IF that is the case, given the price has been maintaining this level, this could be the bottom for the third correction wave. Will it retrace to the .618?
Can we expect another five waves up to finally leave the bears to hibernate?
I am long on TRX and do not plan on trading these levels. Despite the recent FUD, fundamentals on TRX are strong. Even though the company's roadmap has a long way to go, Tron is one of the more serious blockchain projects out there.
Note
The bottom didn't hold but it dropped a bit more. Still bullish on TRX.Note
This actually worked out great :DNote
Three waves "seemed" complete but it had a bit more to fall still. Then came another impulse up. Sadly, everything is down in fiat value
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