This technical analysis is against bitcoin and studied on both Binance and Bitfinex via https://www.tradingview.com/chart/tWnyckIg/
In the short term #Tron looks like is has some strength and may make an 8% move upward, followed by another 12% move upward after we stabilize, totaling a 24% move; where by the overall downtrend would come back into play and further downside is expected. Nothing is certain. Trade at your own risk.
This chart is set to 4 hour candle sticks. Upside and downside targets have been labeled in satoshi value.
We have developed a bull flag that was identified by the first leg up of this potential cycle. The parabolic move upward established the flag-pole and the consolidation pushing upward creates the flag. The top edge of the flag is our resistance and must be broken in order for the wave cycle to have a chance of playing out.
It is also very important to take note of where this wave has previously seen key points of resistance and support.
As stated above - In the short term Tron looks like is has some strength and may make an 8% move upward to our 417 satoshi target, followed by another 12% move upward to our 484 satoshi target, after we stabilize, totaling a 24% move.
The downtrend should regain control at this point. Nothing is certain. Trade at your own risk.
Failure to break upward out of this flag may result in further down side to 350 satoshi and on to 310 satoshi, which is the primary support of the Tron wave.
This chart is set to weekly candle sticks with our same price targets.
Taking a zoomed out look at the TRX:BTC chart.
Today's Top 10
The statistics were derived from the first leg up of the bull flag injunction with the golden ratio/fib charts.
I also don't own any Tron, but just noticed they are not ERC-20 tokens anymore - awesome. Also, Binance will convert your TRX ERC-20 tokens to the real TRX tokens if you send them to your Binance Ethereum address.. Here is their notice -
Notice:If you need to deposit ERC20 TRX tokens to Binance, please send these tokens to your existing ETH deposit address on Binance. We will automatically convert these ERC20 tokens to TRX Mainnet tokens for you.
Feeling generous? shoot me some TRON: TPeEQZkX4fbiwjERCwktgNKU4eqtFxZvbQ