Following my previous chart which showed Tron's potential, I am now taking a closer look of how the chart should make it's way up in a conservative manner. However I must point out that there is nothing conservative about TRX. When it pumps it pumps hard and when it dumps it dumps harder.
The chart depicts an upward trend following the long-awaited bullish reversal. In order to retrace the prices in a more accurate manner I've decided to omit the swing low (382) and take the next swing low (478) which actually confirms the reversal of trend. I've taken into consideration the chart's bearish trend angle and averaged it to around 30 degrees which in-turn used it to trace the bullish trend pattern.
Since bullish reversal is most likely confirmed I've decided to go for the Elliot's Wave to support my idea. I've labelled the support and resistance levels through multiple Fibonacci retracements and extensions. The process is much more complex but I've decided not to clutter the chart and keep it simple. Chart does not take into consideration BTC's price.
Hope this helps create a clearer picture of TRON's future price.
This is not an investment advice, always do your own research.
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Dear Traders, there's a typo on wave 2. It should read 600 - 660. If you put curse on wave two you shall see that price should read 660. Precisely where it has been for hours! The power of Fibonacci!
P.s. some comments are ridiculous down here. Where would we be without trolls and haters? Chart followed movement perfectly till now. Projections aren't usually accurate but so far this one seems to be very accurate. Stop the hate and think before you talk.
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*Cursor not curse :D
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Dear Traders,
Some are questioning the direction of TRX. One has to understand that Tron has the potential to be one of the few winner in cryptocurrencies. "Then why is the price going sideways and against all signs of improvement?"
The answer is very simple. TRX is yet to unfold their major project in Asia. Justin Sun is building a serious team full of experienced developers and creating a massive blockchain platform and digital currency for the entertainment and gaming space. What they are creating is unique and entirely new and revolutionary. What they are trying to invent threatens US tech firms like Facebook, Apple, Twitter and Google. Hence the FUD is huge.
Price is currently being manipulated by whales who realise the potential of this coin. They know that once their product is out this coin will hit double figures. When is another question. This manipulation is a well-crafted campaign for these whales because once price shoots up, which it will, they will have a good chunk of TRX ready to be sold or kept for a much greater price.
I'd recommend Tron for a long-term hold. Buy it and forget about it. I believe we'll be seeing TRX around $0.30 - $0.50 by June 2018 and heading towards $1 - $3 by end of year 2018. If TRX lays out it projects upfront and re-build the trust of investors the figures quoted could easily be doubled.
This coin will be back. Remember what their ultimate aim is. It ain't easy competing with the big US tech firms. They seem to be working diligently and taking their time to execute properly.
How much does btc affect trx? Btc probably goes down within the next days to 9.000 or lower. Maybe try goes below 700 again and further
Nextmarte
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@FloTi, since BTC is the thermometer of the market probably all the alts will drop in price too, but we will have a pump before due to the anoucements cooming this week(game launch, peiwo roadmap)
theherorv
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Hello Guys, is there any one who can predict TRX moves correctly ? I need to find that legend.
MattRiedle
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TRX looks like it might fall back into the 400s now. Update?
carlosmcolon1
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Your elliot waves arent done correctly. Wave 4 in theory should never go below wave one ath.
itradearn
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@carlosmcolon1, you're like jetrix below. It didn't go below. Grab your pointer and hover it over point 4. Stop trolling.
jetrixs
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your elliot waves are wrong, please read a manual how to do them correctly
itradearn
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@jetrixs, haha no it’s not. Wave 3 is not the shortest. Wave 1 and 4 do not overlap. There’s a typo on wave two should read 660 to 700. The rest is fine and TRX is following chart movement. Go away troll.
jetrixs
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@carlcauchi5, Congratulations...
MattRiedle
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@jetrixs How many people come back to look at these? I don't know why people even try to chart TRX. It does whatever it wants.