TRON aka TRX approaching all-time low | Technical Analysis by Whaleagents | 8.14.2018

in #cryptocurrencysignals • 6 years ago

troncoin.png

TRON is currently trapped within a parallel channel as the price continues to bounce between channel's support and resistance trend lines . By doing so, the price action has penetrated through both the 78.6% Fibonacci support and horizontal support around 0.00000315. The same level held support a couple months ago, which then launched the coin to new highs. As the price closed below the horizontal support on a daily closing base, it is to be expected that the mentioned level will now act as a resistance. If we see a reaction of off that level, a rotation lower to re-test the all-time low around 0.00000190 can be expected. If, on the other hand, bulls manage to break above the horizontal resistance and channel's upper trend line , a big move to the upside may occur. In that case, a buy once the channel has been penetrated is the most likely action to be taken.

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#tron #trx
6 years ago in #cryptocurrencysignals by
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