TRON (TRX) placed five Elliott Wave impulse waves and is now doing the requisite correction. In this case, it's a bullish downward pointing triangle. Price came out of the bullish downward pointing triangle but is going lateral. I've seen this before and the lateral move usually takes a form of another triangle.
Here is a higher zoom of the later price move and its forming a triangle pattern. This triangle should resolve towards the upside.
These can be viewed as fractals. Fractal #2 needs the MACD to rise above the 0.00 level as then that would provide the impetus to surge upwards.
Here is another perspective from a forward discerning vantagepoint. The curvature state seems to indicate a Cup & Handle pattern wich cryptos love so much. IF this is correct, price coudl proceed laterally for a while prior to rise to form the right side of the Cup.
This chart is not a copy of the TRX/USd; but rather a TRX/BTC and it is lagging the /usd pair but not by much. This too is displaying a similar Cup & Handle forward pattern projection.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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