Hodl, dear members of LeoFinance!
Today, let's have a look at the price chart of Tron.
In the daily chart (1D), recently, TRX/USD has posted a correction, as most of the major cryptocurrencies have done:
However, as can be seen from the chart, because of this correction, the price of Tron hit the trend line two days ago. So, the trend line is still heading upwards. It means that the uptrend remains in place. And, probably, TRX/USD will continue to receive support from the trend line and will even attempt to renew the trend. But, for the uptrend to resume, first, the price of Tron should exit the Descending channel (downtrend) in the 1-hour chart:
As can be seen from the chart, TRX/USD continues its journey within the channel. Only if the price exits this correction in the upward direction I may consider opening a long position. For now, I will remain in a wait-and-see mode.
To be continued ...
As of the time of writing, one TRX costs $0,0903 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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