I am not an Adviser but student of chart and Analysis, I can see TRX is under correction and formed a triangular pattern and may break the triangle or may continue in straight line equilibrium for some time, one think to worry is that 20 ema and 50 ema can cross each other forming golden death cross.
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strong supports are at 927 , 800, 630, 575. Crossing yet to happen.
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inside bar alert : inside bar broke bearish , strong support of 927 looks like going to break and if it wont come back to 927 quickly, i think will head to test the next support at 800.
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927 support is broken and now its a resistance to it, looks like we will head to 800. T1- reached.
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Golden Bearish Cross is yet to happen and its very close
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T2-800 reached
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Still looking Short term bearish and can go low to 600 like ADA, XVG did in the history from 1500 to 600. But if it breaks the down trendline in chart above (green), then can turn bullish with some reversal signs. Great Buy Opportunity around 600 yet to come at the moment.
What do you reckon the highest probability direction is?
ahmed.abrar007
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@jackthedavies77, I think , it can make a repeating pattern like on 3rd jan, it can break high , but looking at reduced volume it is very tricky to say. so i think putting a stop loss on below 50 ema line is much safer , if it cross 50 ema it can fall to 575.
saiko1490
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@ahmed.abrar007, With Bitcoin about to take a s*** down to 11-12k and another Tron partnership announcement coming soon, I have reason to believe Tron might be headed up in a few days. If not, at least we'll have another buy opportunity :)
ahmed.abrar007
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@saiko1490, true, I think 600-750 will be a great buy opportunity if we get it.