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Tronix

TRX Tron Double Top Chart PatternTRX Tron has formed one of the most obvious and bearish chart pattern out there: the Double Top. The double top chart pattern is a bearish reversal pattern that is commonly observed in technical analysis of financial markets. This pattern typically forms after an extended uptrend, indicating that the market may be losing momentum and could potentially reverse its direction. The pattern is characterized by two distinct peaks that are formed at approximately the same price level, separated by a period of consolidation or retracement in between. The two peaks are often referred to as the "left shoulder" and the "right shoulder," while the period of consolidation in between is referred to as the "neckline." Once the second peak is formed and the price breaks below the neckline, it is considered a confirmation of the double top pattern. This break below the neckline indicates that the buyers are no longer able to push the price higher, and the sellers may have regained control of the market. The Price Target of this pattern for TRX Tron on this particular pattern is $0.054! Looking forward to read your opinion about it!
Short
by TopgOptions
Tron's Swan Song: The Ballad of Justin SunHUOBI:TRXUSDT - 1D Disclaimer : This post will be laden with brutal fundamental analysis as it relates to the burgeoning DeFi segment. Tron. It's had a scammy reputation in the crypto sector for a while. Maxis hate every alt, ETHeads despise Tron for copying their whitepaper and protocol components. Fan & moonbois of other platforms use Tron as a bottom tier goal post in measuring their own performance. CryptoTwitter rags on Justin Sun for his fake followers and penchant for announcing announcements about an announcement. Yet, through it all, Tron is currently the best platform for DeFi exposure. Yes...I didn't mis-speak. Tron is currently the best platform for DeFi exposure. I'm not saying Tron has the most volume, or the best tokens. ETH blows everything out of the water but it comes at a hefty price in the form of gas. If, as a segment, we're screaming "DeFi DeFi DeFi" then what's the response to "why does it cost me $380 to buy $30 worth of tokens?" You can't invite the world in to rape them with tx fees and ETH 2.0 is so far away you can't offer that as a solution with a straight face; nor does it solve the issue at hand. Peruse DAPPradar and look at users on non-ETH platforms. Tron and BSC are the only chains with users and volume. BSC is cobbled together using custom metamask networks and broken BSC wallet links, so it doesn't have the usability that is needed for new entrants. The founders are also a mish-mash of globally organized, yet disconnected, entities that restrict certain activity on national IP levels. Additionally, it costs something like 1200 BNB to create a smart contract on BSC, which at present is ~$85,000. It doesn't cost large sums of money to transact on the Tron network. You can stake tokens for smart contract energy and pay zero fees at all. You can create a token for 1024 Tron. You get free bandwidth to send tokens daily. Is the Tron platform a less than ideal decentralized system? Yes. Is the Tron network full of scams and potentially dangerous investments? Yes. Does Tron do anything other than copy Ethereum? No. None of that matters as right now, it offers the best overall environment to transact in DeFi. It has the lowest fees, best user experience, a plethora of DeFi abilities, and is lead by one of the most recognizable faces in crypto on the planet - who happens to be a major influencer in the Chinese market. Tron's market share is going to grow substantially while superior alternatives like Cardano, Cosmos, and Polkadot build out. Tron has a 6-10 month window to capture large portions of ETH's audience as well as new entrants, and that's exactly where this chart is leading us. April 9, 2018 Tron was trading at $.033. May 1, 2018 Tron was trading at $.10. In three weeks it 3x'd. This chart is built off that rise and fall, and it is worth mentioning that a three week rise to $.10 is entirely possible - and even more likely as Ether gatekeeps new entrants to DeFi. Tron is currently printing a 19 month long inverse head and shoulders pattern, with the neckline right at 4c. The neckline has been pierced twice already by towering wicks that defied the upper BBand. These wicks were promptly rejected and that's what's brought us to this current, stabilized rally. I'm looking for a strong upward movement within the upper BBand & EMA7 as TRX approaches the neckline. I'll enter in around $.0415 with a target $.065. The pink lines represent minor resistance while the orange lines present larger challenges. I wouldn't be surprised to see Tron trade within the orange lines for the largest period of time in its rise back to 10c. I'll re-enter upon confirmation of $.077 and smooth sail to $.091. Depending upon volume and momentum, I'll either bail there after or ride to 10c. Keep in mind Tron's previous ATH was $.25 and that was spurred by a large influx of Redditors and Sun just bought the top of GME and AMC to advertise to Redditors again. The mashup of fundamental and technical analysis in this post is to provide a better view of what factors will drive this price up. Tron is going to shoot up as people offboard ETH and new crypto entrants onboard DeFi. That action, as well as general market movements, will have Tron super-bullish in the Year of the Ox. And I say all of this as someone who has typically been critical of Tron whilst supportive of its competitors. This is not investment advice and trading cryptocurrency is high risk.
Long
by LoDoCrypto
4
The price of Tron will reach 0.072.Hello. According to the analysis, the Tron currency will fall in the resistance point "Re 1" and then with the price falling on one of the support points "Su 1" or "Su 2" its price will return to the point " Re 1 "arrives. So according to the analysis we have to keep our price up to 0.072 Tron and then sell it so that the Tron currency reaches one of the support points. First resistance point: Re 1 First support point: Su 1 Second support point: Su2 Thank you very much for your valuable time.
by Wall_Meme
Is TRX a good investment ahead of the USDD's debut?On Thursday, the price of TRX skyrocketed when Justin Sun announced plans for a new stablecoin. TRX hit a high of $0.074, the highest since April 4th. However, following Jerome Powell’s hawkish remarks, these gains were short-lived. Bullish Scenario: TRX may retrace back to $0.06 support levels. If TRX manages to break over the resistance level at $0.074 after retracements, it will be mildly bullish. With sufficient buying activity, breaking above the $0.08 price barrier will lead to a rise towards $0.10 and higher. Bearish Scenario: TRX has been in a decline for several months, thus we don’t have a strong bullish bias for the medium term. If the support level of $0.06 does not hold, the price will sooner or later fall below $0.05, $0.03, and much lower.
BINANCE:TRXUSDLong
by AltcoinBuzzTrading
TRX - TRONIX - TRON network on the move higherTronix, also known as TRX, is the native cryptocurrency of Tron: a blockchain-based platform with two main functions. First, it serves as a global online content sharing platform, and secondly, it allows developers to create their own autonomous applications that operate without the need for intermediaries (* information from CoinDesk). This asset hit .1805 back in April 2021 and looks to be headed to much higher ground. Having broken north of the wedge pattern holding it down for several weeks, the price of TRX has climbed steadily. Resistance at .0714 looks a likely target. 2 days ago the 50 EMA crossed the 200 EMA which is known as a Golden Cross and this is a very BULLISH sign. With plenty of support below the currenct price with the 50 EMA and 200 EMA, this asset looks a banker LONG trade.
Long
by forextraplaces
TRON - TRX - Double bottom - Position - Long-termA double bottom is formed following a single rounding bottom pattern which can also be the first sign of a potential reversal. Rounding bottom patterns will typically occur at the end of an extended bearish trend. The double bottom formation constructed from two consecutive rounding bottoms can also infer that investors are following the security to capitalize on its last push lower toward a support level. A double bottom will typically indicate a bullish reversal which provides an opportunity for investors to obtain profits from a bullish rally. After a double bottom, common trading strategies include long positions that will profit from a rising security price. $TRON $TRX
BITFINEX:TRXUSDLong
by ferGOD
2
$TRX: Road to Redemption or Plot to Steal All My Money?If you all knew how much money I've lost on reckless TRX moves over the years you would be ashamed. But like any good Mongoose I just don't learn my lesson until I bite the head completely off of the snake. If this thing takes off there is plenty of room for profits. Let's give it a go shall we? Oh and if you're reading this Justin Sun, you suck. Warnings: If BTC continues on a tear TRX is almost aways guaranteed to plummet. So if we see another bull run we could see 75 sat and lower range. Also, this coin is cursed so good luck.
Long
by Teammongoose2
4