EW Count TRX

Updated

Here's my long term Elliott Wave count on Tron. This is also the reason why I am so bullish on Tron. The increase since the beginning of April looks impulsive to me, not corrective. And even if it looks like a correction to $0,060 (worst case) in the short term, my price target is over $1 by the end of the year.

Prices below $ 0.052 would be very bad. This would negate the whole scenario.

Note

Here the 15min chart of a possible wave four.

Note

The TRX could form a falling wedge that completes the wave four. However, the pattern is still very fuzzy.

Note

It looks like a false breakout :(

Note

negative divergance in 1h Candle and RSI

Note

Short-term price gains possible

Note

It doesn't look so bad for Tron. Okay, the wave four is taking longer than I thought. But the scenario itself is still valid. The question is if the supports will hold. And more importantly, we can break the resistance upwards.

crypthereum

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.