Tron is nearing the apex of the contracting triangle formation, this pattern could breakout now or we could still see one more downward movement before breaking out.
The yellow arrows on the chart point to similar patterns in which EMAs are converging (orange/blue/pink lines and MACD) and we also seeing similar levels of volume. Based on the thrust measurement, TRX should get close and potentially cross ~1000 sats soon. Green dashed lines on chart show potential future targets based on fibonacci ratios.
It is possible that we could break below support or continue consolidating sideways, but I believe it’s more probable that we will see a bullish breakout.
The yellow arrows on the chart point to similar patterns in which EMAs are converging (orange/blue/pink lines and MACD) and we also seeing similar levels of volume. Based on the thrust measurement, TRX should get close and potentially cross ~1000 sats soon. Green dashed lines on chart show potential future targets based on fibonacci ratios.
It is possible that we could break below support or continue consolidating sideways, but I believe it’s more probable that we will see a bullish breakout.
