Crypto Explainer - What is TRON (TRX)?Despite being in the shadows for a while now, TRON is a very interesting project that aims to decentralize entertainment applications. From file sharing all the way to gaming, this is definitely an interesting project.
TRX, the native coin in the TRON blockchain made big jumps lately and is eyeing its previous all-time high.
Will TRON breakthrough and prove to be better than Ethereum?
Cheers, from CryptoTicker
Tron
Tron TRXUSD - Huge channel + Elliot Wave- On the chart we can see an incomplete Impulse Elliott Wawe (5th wave).
- Rounding bottom or cup and handle is also printing on the chart.
- Volume is very bullish and also RSI is prepared for another pump!
- Target is 1:1 fib trend-based extension + top of the ascending channel + 5th elliott wave
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio ( RRR ) - please check my signature below ↓
- Huge bullish volume is also one of the positive signs!
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TRON Breaking Out Off Strong Support - Good Potential LongI really like the potential of this long entry as TRON breaks out off of strong support. Reason being is that even if the price reverses after the breakout, good support is there. TRXUSDT has one of the stronger USDT charts out there following BTC's collapse. It could indicate that the bulls are ready to push the price higher. The only caveat that could foil this plan is if BTC continues to sell off so have your SL ready below support just in case.
TRX/USD - global. The point is that price has 2 phases (aka Wyckoff theory) : accumulation and distribution.
Previous cycle of phases the prica has passed. So current phase is accumulation.
Using 200MA we can see some similiarities with last phase.
Also Fib circles used for searching possible ressistence.
I am long for Tron.
vs BTC :
TRX is more confused than everA look at TRX daily chart shows that the long-term and medium-term trends are bullish.But the short-term trend is very confusing , The price candle on September 22, for example, was very promising, but the trading volume was small , As a result, buyers were unable to offset their losses on September 23 and a Dodge candle was formed.Today the situation has become more complicated and after the formation of the Dodge candle, now the price changes with emotions.I think the downtrend is more likely Because with a simple look at the chart, it can be seen that the power of descending candlesticks is more than ascending candlesticks.In the short term, the most important support is 0.085 and the most important resistance is 0.12.
This is not a financial recommendation.
This is just a technical analysis.
I starting to re-gain position on the TRXI starting to re-gain position on TRXUSDT. I'm starting to re-gain position on the Throne. Bought 20% of the position. I am looking for the mirrored level-zone 0.09-0.104 on the weekly timeframe. I think that it will be fixed at this level. If the price goes against, I will average 40% of the position in the 0.082-0.076 zone. The minimum from the squeeze on September 7th. I do not put a stop yet.
TRXUSD D1: XABCD 150% gains BEST LEVEL TO BUY(SL/TP)(NEW)Why get subbed to me on Tradingview?
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TRXUSD D1: XABCD 150% gains BEST LEVEL TO BUY(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: ALGOUSD 2days/candle chart review
::: XABCD setup in progress
::: currently ACCUMULATION MODE
::: point C is near 27cents
::: BUY/ACCUMULATE near market
::: strong bullish chart
::: up to 150% gains possible later
::: short-term pullback possible
::: bulls wait for pullback
::: SPECULATIVE SETUP
::: do your own due dill
::: and use proper risk management
::: TP bulls is +150% gains
::: details: see chart
::: FINAL TP is 16/17 cents
::: recommended strategy: BUY/HOLD after correction
::: best entry near 0.06
::: TP BULLS +150% gains
::: SWING TRADE: BUY/HOLD IT
::: bull run not over yet
::: good luck traders!
::: BUY/HOLD and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BULLS/FINAL PUMP
::: Sentiment short-term: BEARS/CORRECTION
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
TRON - Overlook ✅TRON has two main supports on the way down: one local for short term and one key support for long term which is the area we've consolidated on for a while.
I said on the way down because TRX also is going through corrections, just like the whole market, and we're not sure when it'll stop since there are strong sell volumes on the market.
Not a good time for opening long positions at all, not safe at all.
Use this chart as your trade setup for now.
Current Market Price: $0.09321
Good Luck
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TRX/USD - Path to $0.20 🚀TRON macro view looks bullish as the trend is clearly up (higher lows).
If we count the waves, we seem to have completed all waves apart from the last fifth wave up. Once that is done, we may have a longer cool-off.
Price appears to be around half-way towards the top on this last wave. It's hard to guess the top, but I'd bet anywhere around $0.20 is a good place to secure profit. Some possible resistance levels are on the chart.
I don't exclude another re-test of support which would present a good buy opportunity before the last pump up. Then we need to re-assess the chart.
On weekly timeframe, indicators are bullish but I don't like the lacking volume. Hence, why on daily it does look like tron wants to re-test our support before we push higher again. So best to buy then if you are interested in longing Tron. If this plays through, you can double your entry, not bad.
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TRON at a 13% Discount - Potential Entries Before Next Leg UpA quick post that I thought was worth mentioning. Tron reset the RSI correcting ~13% since last night. When I saw that it was sitting on a confluence of support level from several different trends, I couldn't control myself and bought some more TRX at this 222 sat level. Bitcoin just had a little shakeout to $46750, but maintained it's bull flag. If it can show some strength and have a solid breakout beyond $48,000, I think we can expect a bullish continuation from TRX. The price could really fly if it breaks out against BTC.
TRX will see high prices when it breaks out!Here's a quick look at TRX 2 days chart. As we can see, the price has been going sideways and has printed a big symmetrical triangle. The price will probably revisit previous ATH when it breaks out. Definitely one to keep an eye on.
The best entry would be, when the price breaks above the symmetrical triangle with good amount of volume .
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The idea is: Buy the breakout from the symmetrical triangle and take profits at the levels shown in the chart.
Targets:
- Profits can be taken in the resistance zone .
1. 0.14$
2. 0.148$
3. 0.18$
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!