Cup and Handle on Tron?
We all know that Tron has released it's infamous main net the 31st of March, and despite a price spice on token migration day (~May 21st), Tron's price action did not seem to respond well despite the massively updated software. My hypothesis is that Tron has simply been in a cup and handle ever since it's massive peak in January, and this downtrend is just the handle. We are currently at the bottom of the handle, which constitutes an opportunity for entry for swing traders wary of the risks, but we need a substantial jump before we can get our handle breakout. I personally believe that Tron is a good investment in the long run anyways, since I believe in the tech behind it, but nevertheless I see a chart analysis method predicting positive price action as well. Just cause I see a formation forming, however, does not rule out a drop should the handle fail, hence my tentative red arrows. Remember, the safest trading is when you trade the breakouts. Thanks for reading!
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