TRX/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave ((C)).
Direction next higher degrees: Wave I of impulse Wave cancel invalid level.
Details: Wave IV may be complete and the price increase again in Wave V.
TRX/USD trading strategy
Tron's fourth wave correction appears to be complete at the level. 0.1051 and the price is rising again in the fifth wave. But there may be a correction in wave 2 of the fifth wave before increasing. Therefore, the overall price is entering the trend again. Looking for opportunities to open long positions.
TRX/USD technical indicators
The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.
TRX/USD Elliott Wave technical analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Direction next higher degrees: Wave I of impulse
Wave cancel invalid level
Details: Wave IV may be complete and the price increase again in Wave V.
TRX/USD trading strategy
Tron's fourth wave correction appears to be complete at the level. 0.1051 and the price is rising again in the fifth wave. But there may be a correction in wave 2 of the fifth wave before increasing. Therefore, the overall price is entering the trend again. Looking for opportunities to open long positions.
TRX/USD technical indicators
The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.
Tron Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
LINK price jumps 10% as Chainlink races toward tokenization of funds
Chainlink (LINK) price has remained range-bound for a while, stuck between the $16.00 roadblock to the upside and $13.08 to the downside. However, in light of recent revelations, the token, which powers the verifiable web of the decentralized computing platform, may have further upside potential.
Gaming token Notcoin down by almost 50% after airdrop launch
NOT experienced a rapid decline hours after its anticipated launch on Thursday, shedding almost 50% of its value. This continues the cycle of huge selling pressure faced by cryptocurrency airdrops after their launch, especially the launch of gaming tokens in recent times.
Ethereum drops below $3,000 again, spot ETH ETF sparks debate in crypto community
Ethereum again went below the $3,000 key level on Thursday after posting signs of a rally. The price action follows predictions from the community regarding the SEC's decision on spot ETH ETFs next week.
SUI price defends $0.8880 amid multiple Sui network integrations
Sui (SUI) price failed to heed to the broader market recovery on Wednesday, extending the fall to the $0.8880 support level. However, with multiple network integrations in the works, the altcoin has pivoted around this level and is scaling a recovery.
Bitcoin: Why BTC is close to a bottom
Bitcoin (BTC) price efforts of a recovery this week have been countered by selling pressure during the onset of the American session. However, the downside potential appears to have been capped.