Img source
Tron used to be and it is a crypto which people have a lot of doubts! I did go thorough that in my previous post!
I wont be talking too much about Tron, it's glory nor rumors about it, this article will be purely about technical analysis.
Let's keep this article clean just like our charts should be.
In the last article I mentioned that the bearish channel has been broken and now I'll be expecting a retrace to the nearest support.
Back at 4th and 5th of January, Tron's price got rejected twice at the 0.030 area! This is where I expected price to retrace and find support at 0.0283 area, which obviously it did on the 6th of January! This support was followed by a strong bullish candle and a reaction at the same resistance area at 0.030 but price found support in a minor zone at 0.0290!
After this we can see that there was a lot of struggle to break above 0.030 area!
The last candle seems that price finally found support and closed above 0.030 area! That's a good thing for the Tron's price!
To be even more precise about what I'm talking, I'll drop in the 1hr TF and we can see what I'm talking about!
The last bearish candle closed above 0.030 area, the next candle left another wick on the same area which then close bullish above the 0.030 area and the last candle is just above the 0.030!
So this is when things start to become interesting right?
What's next?
In the following days I'll expect price to reach 0.039-0.04 area!
Tron has a bright future buyers should jump into the wave before it's too late.
What do you think about Tron?
thatdhe!