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Tron (TRX) Update 16-May-19Hi all Good day! In my previous post , I described about Stellar short term price action that follows Inverse Head & Shoulders Pattern which is a bullish pattern. This is executed perfectly well and had a bullish breakout. In this post, I will explain similar price action that follows the same "Inverse Head & Shoulders Pattern". As you can see in the chart, the head and shoulders top is used to predict reversals in downtrends. This pattern is identified when the price forms left shoulder, head and right shoulder inverted with a neck line connecting the head and the shoulders . The target is equivalent to the height of the head from the neck line. Hope you find this useful. Follow me here , for more updates. ~RPS~
BINANCE:TRXUSDLong
by praveensam001
TRX / USD Price Analysis: Alone In The DarkTRON / USD Short-term price analysis TRON has a neutral short-term trading bias, with the cryptocurrency rallying back towards its 200-period moving average on the four-hour time frame. The four-time frame continues to show a large head and shoulders pattern, with TRX / USD buyers still unable to invalidate the bearish pattern. Technical indicators on the four-hour time frame are bullish and continue to point to further upside in the short-term. Pattern Watch Traders should note that the April 16th swing-high currently offers the strongest form of near-term technical resistance for the TRX / USD pair. Relative Strength Index The Relative Strength Index has turned bullish on the four-hour time frame and shows scope for further upside. MACD Indicator The MACD indicator has turned bullish on the four-hour time frame and also shows scope for further upside. Fundamental Analysis Tron is making gains after its CEO Justin Sun made Binance an offer to deposit 7,000 BTC worth of USDT ($40 million USDT) to buy BNB, BTC, and TRX. This was done to ‘support’ the exchange (which had plenty in reserve) after hackers were able to withdraw 7,000 BTC from its hot wallet. Yesterday, Justin Sun also announced that TRX will be back to Top-10 in June. Although this sounds like an attempt to pump the coin, it is still possible that Sun knows more than the rest of the market. It is also possible that Sun continues to spout hype instead of substance. Last night’s ‘generous’ offer to cover the 7,000 BTC security breach at Binance, seems to be another of his thinly-disguised and regular taunts at other cryptocurrency community members. Sun’s regular trolling of Ethereum figures, and his go-it-alone philosophy, may pay dividends if he can create substantial adoption of the cryptocurrency – or it may backfire, leaving TRON isolated in an industry that values partnerships. TRON / USD Medium-term price analysis TRON has a bullish medium-term outlook, with the TRX / USD pair moving back towards key trendline resistance on the daily time frame. Bullish MACD price divergence is still evident on the daily time frame, which could be reversed if the bullish inverted head and shoulders pattern on the mentioned time frame is triggered. Technical indicators on the daily time frame are starting to turn bullish, following the latest rally in the TRX / USD pair. TRX / USD Daily Chart by TradingView Pattern Watch Traders should note that the June 21st, 2018 swing-high is the initial upside target of the inverted head and shoulders pattern on the daily time frame. Relative Strength Index The RSI indicator is still bullish on the daily time frame and shows scope for further upside. MACD Indicator The MACD indicator on the daily time frame has turned bullish and is generating a buy signal. Fundamental Analysis In the medium term, the project looks speculative. Although it deploys an aggressive marketing strategy, its technology still suffers from security flaws. For example, the recently discovered security breach could have been used to shut down the network with just one computer. Conclusion TRON is attempting to recover bullish trading momentum, with short-term buyers now needing to rally the TRX / USD pair even higher to invalidate the bearish pattern on the four-hour time frame. If buyers can ignite the inverted head and shoulders pattern on the daily time frame a bullish technical breakout rally is likely to occur over the medium-term.
BINANCE:TRXUSDLong
by CryptoBriefingTA
Tron's latest analysis TRON Latest Price Analysis- Feb 8, 2019- Bittorrent Airdrop Effect On Tron's Price Fading? #1 Key Highlights * TRX/USD price surged 10+% and in downside correction.\u2028 * $0.02554 support level broken.\u2028 * TRX/USD closed below 200-4H Moving Average (MA) after breaking it.\u2028 * Tested Ichimoku cloud's resistance but couldn't sustain it above.\u2028 #2 TRON Latest Price Analysis – Hourly (4H) Chart TRX/USD Tron technical analysis today shows that it broke the short-term downtrend line(black) but couldn't sustain above it longer. Let's look at the insights of Tron price analysis 2019 on its Hourly (4H)-timeframe chart. TRX/USD moved 10%+ but it has been under downside correction for the past few days.It could be because of the Bittorrent airpdrop ,dated 11th February'2019, got over. It tried to challenge the 200-4H Moving Average(MA) recently but couldn't sustain over it longer.Other bearish signs could be seen is that it closed and traded below ichimoku's cloud after testing it recently. The short-term downtrend line (black), since 4th February ' 2019, needs to be broken in order to test the immediate resistance (red bar) around $0.026+. It has been testing the $0.026+ immediate resistance for the past two days. Tron's Elliott wave theory depicts that we are in the last wave of its complete cycle. Also the previous support around $0.2539-$0.2558 broke which might lead to support turned resistance(S/R flip). MACD is slightly turning bullish as well as Stoch-RSI is in oversold zone forming a bullish divergence which might cause the price jump in the coming days.But challenging S/R flip area along with immediate resistance(red bar) is necessary for Tron analysis meaning with bullish sentiments. #3 Conclusion Overall, TRON(TRX/USD) is under pressure after the BTT airdrop timeline got over and needs another catalyst to boost the price action in upward direction.
BINANCE:TRXUSD
by coinswitch-trading
TRON(TRX/BTC)Tron has been the best performer in the market recently and has seen surge(100%+) for the past 40 days with news of Bittorrent company.However it needs to cool off(drop) before continuing the bullish momentum. Bullish Case: It will undergo a healthy correction after the recent surge and needs to hold the 488-530 satoshi level before moving up.If it manages to hold the 488-530 satoshi level then we might see the surge till 750+ satoshi level.Second level of support will be around 415-448 satoshi level and it needs to hold in order to continue bullish sentiments. Bearish Case If the last level of support i.e. around 415-448 satoshi doesn't hold then we might see it dipping to below 300 satoshi level in the coming days and weeks.
by coinswitch-trading
A second Chance to Buy TRXETH ...Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend. Technical analysis: . The price is below the 21-Day WEMA which acts as a dynamic resistance. . Relative strength index ( RSI ) is 50. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (0.00010430). if so, traders can set orders based on Price Action and expect to reach short-term targets. *If you missed our first HUNT, you have a second chance to buy above the suggested support line (0.00010430). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 7 BUY trade(s) @ 0.00007474 based on '2-Day Hammer' entry method at 08.23.2018. Total Profit: 20792 pip Closed trade(s): 10604 Profit Open trade(s): 10188 Profit Closed Profit: TP1 @ 0.000084 touched at 08.26.2018 with 926 Profit. TP2 @ 0.000094 touched at 08.28.2018 with 1926 Profit. TP3 @ 0.000104 touched at 09.21.2018 with 2926 Profit. TP4 @ 0.000123 touched at 10.08.2018 with 4826 Profit. 926 + 1926 + 2926 + 4826 = 10604 Open Profit: Profit for one trade is 0.00010870 (current price) - 0.00007474 (open price) = 3396 3 trade(s) still open, therefore total profit for open trade(s) is 3396 x 3 = 10188 All SLs moved to Break-even point. Take Profit: TP5= @ 0.000145 TP6= @ 0.000319 TP7= Free
Long
by ForecastCity
A trading opportunity to buy in TRXBTCTechnical analysis: Tron/Bitcoin is in a range bound and the beginning of uptrend is expected. The price is below the 21-Day WEMA which acts as a dynamic resistance. The RSI is at 39. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: Price is in the support zone (0.00000305 to 0.00000260), traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (0.00000305) Ending of entry zone (0.00000260) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.00000352 TP2= @ 0.00000386 TP3= @ 0.00000440 TP4= @ 0.00000485 TP5= @ 0.00000552 TP6= @ 0.00000643 TP7= @ 0.00000735 TP8= @ 0.00000864 TP9= @ 0.00001028 TP10= Free
Long
by ForecastCity
There is a trading opportunity to buy in TRXETH Technical analysis: . TRON/ETHEREUM is in a range bound but the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 46. . The RSI downtrend is broken, so the probability of a resumption of uptrend is increased. Trading suggestion: . We have already opened 7 BUY trade(s) @ 0.00007898 based on 'a reversal candle ( Bullish engulfing )' entry method at 07.24.2018 in our suggested support zone (0.000075 to 0.000070). Beginning of entry zone (0.000075) Ending of entry zone (0.000070) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.000084 TP2= @ 0.000094 TP3= @ 0.000104 TP4= @ 0.000123 TP5= @ 0.000145 TP6= @ 0.000319 TP7= Free
Long
by ForecastCity
There is a possibility for the beginning of an uptrend in TRXUSDTechnical analysis: . TRON/DOLLAR is in a downtrend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 34. . While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue . Trading suggestion: . Price is in the support zone (0.030 to 0.025), traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (0.030) Ending of entry zone (0.025) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0346 TP2= @ 0.0405 TP3= @ 0.0435 TP4= @ 0.0506 TP5= @ 0.0557 TP6= @ 0.0643 TP7= @ 0.0729 TP8= @ 0.0820 TP9= @ 0.1005 TP10= Free
BITFINEX:TRXUSDLong
by ForecastCity
A trading opportunity to buy in TRXUSDTechnical analysis: . TRON/DOLLAR is in a downtrend and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 41. Trading suggestion: . There is still a possibility of temporary retracement to suggested support zone (0.034 to 0.030). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.034) Ending of entry zone (0.030) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0405 TP2= @ 0.0435 TP3= @ 0.0506 TP4= @ 0.0576 TP5= @ 0.0658 TP6= @ 0.0739 TP7= @ 0.0820 TP8= @ 0.1005 TP9= Free
BITFINEX:TRXUSDLong
by ForecastCity
There is a possibility for the beginning of uptrend in TRXBTCTechnical analysis: . TRON/BITCOIN is in a range bound and beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 35. Trading suggestion: . The price is in a range bound and we forecast the uptrend would begin. . There is a possibility of temporary retracement to suggested support zone (0.0000063 to 0.0000057). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.0000063) Ending of entry zone (0.0000057) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0000075 TP2= @ 0.0000086 TP3= @ 0.0000108 TP4= @ 0.0000148 TP5= @ 0.0000204 TP6= Free
Long
by ForecastCity
2
Technical Analysis of Tron (TRXBTC)Tron touched 61.8% Fib. Retracement level as well as the lower line of downtrend channel and bounced back, so it is likely to go up till 38.2% Fib Retracement level in the short term. Stochastic also giving a buy signal. 1)Currently TRX is in a downtrend channel as seen by the pink lines 2)The immediate resistance will be the red line at 0.00000749 BTC level and the 38.2% Fib. Retracement level. 3)If the red line resistance breaks, the next target will be the upper line of the downtrend channel. 4)Long term TRX support is shown in the green line. 5)If the downtrend channel support breaks and the long term support breaks, then the next suppport will be at 0.00000344 BTC level.
Long
by sumeet007