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Tron's Swan Song: The Ballad of Justin SunHUOBI:TRXUSDT - 1D Disclaimer : This post will be laden with brutal fundamental analysis as it relates to the burgeoning DeFi segment. Tron. It's had a scammy reputation in the crypto sector for a while. Maxis hate every alt, ETHeads despise Tron for copying their whitepaper and protocol components. Fan & moonbois of other platforms use Tron as a bottom tier goal post in measuring their own performance. CryptoTwitter rags on Justin Sun for his fake followers and penchant for announcing announcements about an announcement. Yet, through it all, Tron is currently the best platform for DeFi exposure. Yes...I didn't mis-speak. Tron is currently the best platform for DeFi exposure. I'm not saying Tron has the most volume, or the best tokens. ETH blows everything out of the water but it comes at a hefty price in the form of gas. If, as a segment, we're screaming "DeFi DeFi DeFi" then what's the response to "why does it cost me $380 to buy $30 worth of tokens?" You can't invite the world in to rape them with tx fees and ETH 2.0 is so far away you can't offer that as a solution with a straight face; nor does it solve the issue at hand. Peruse DAPPradar and look at users on non-ETH platforms. Tron and BSC are the only chains with users and volume. BSC is cobbled together using custom metamask networks and broken BSC wallet links, so it doesn't have the usability that is needed for new entrants. The founders are also a mish-mash of globally organized, yet disconnected, entities that restrict certain activity on national IP levels. Additionally, it costs something like 1200 BNB to create a smart contract on BSC, which at present is ~$85,000. It doesn't cost large sums of money to transact on the Tron network. You can stake tokens for smart contract energy and pay zero fees at all. You can create a token for 1024 Tron. You get free bandwidth to send tokens daily. Is the Tron platform a less than ideal decentralized system? Yes. Is the Tron network full of scams and potentially dangerous investments? Yes. Does Tron do anything other than copy Ethereum? No. None of that matters as right now, it offers the best overall environment to transact in DeFi. It has the lowest fees, best user experience, a plethora of DeFi abilities, and is lead by one of the most recognizable faces in crypto on the planet - who happens to be a major influencer in the Chinese market. Tron's market share is going to grow substantially while superior alternatives like Cardano, Cosmos, and Polkadot build out. Tron has a 6-10 month window to capture large portions of ETH's audience as well as new entrants, and that's exactly where this chart is leading us. April 9, 2018 Tron was trading at $.033. May 1, 2018 Tron was trading at $.10. In three weeks it 3x'd. This chart is built off that rise and fall, and it is worth mentioning that a three week rise to $.10 is entirely possible - and even more likely as Ether gatekeeps new entrants to DeFi. Tron is currently printing a 19 month long inverse head and shoulders pattern, with the neckline right at 4c. The neckline has been pierced twice already by towering wicks that defied the upper BBand. These wicks were promptly rejected and that's what's brought us to this current, stabilized rally. I'm looking for a strong upward movement within the upper BBand & EMA7 as TRX approaches the neckline. I'll enter in around $.0415 with a target $.065. The pink lines represent minor resistance while the orange lines present larger challenges. I wouldn't be surprised to see Tron trade within the orange lines for the largest period of time in its rise back to 10c. I'll re-enter upon confirmation of $.077 and smooth sail to $.091. Depending upon volume and momentum, I'll either bail there after or ride to 10c. Keep in mind Tron's previous ATH was $.25 and that was spurred by a large influx of Redditors and Sun just bought the top of GME and AMC to advertise to Redditors again. The mashup of fundamental and technical analysis in this post is to provide a better view of what factors will drive this price up. Tron is going to shoot up as people offboard ETH and new crypto entrants onboard DeFi. That action, as well as general market movements, will have Tron super-bullish in the Year of the Ox. And I say all of this as someone who has typically been critical of Tron whilst supportive of its competitors. This is not investment advice and trading cryptocurrency is high risk.
Long
by LoDoCrypto
4
TRON - ROCKET READY?Let me know your thoughts! TRON was one of the best-performing coins of 2017 and has since dropped a considerable amount since then - Currently, TRX has broken out of a pennant it has been in since the newly found all-time high - while finding support on the new up trend line although briefly breaking below yesterday. If TRX can break above a strong resistance zone between $0.033 and $0.040 we could potentially see quite a large increase. short term target $0.055 long term target $0.10 stop-loss $0.027 ''Buy Big Sell BIGGER'' - MegaWhale
BITFINEX:TRXUSD
by MegaWhale
8
Three bullish reversal moves flashedBig wedge and Ichimoku cloud: If we take a look at the long-term monthly chart, then TRX with Bitcoin pair is moving in a falling wedge pattern and still has more capacity to move more down against BTC to hit the support of this big Wedge. But on the weekly chart, the Ichimoku cloud has changed from bearish to bullish. Now it is easy for the priceline to cross up this bullish cloud at any time. This indicates that this time the price action of Tron may not move down to hit the support of wedge on the monthly chart, as mentioned earlier. Different support and resistance level: Now if we take a look at the different long-term support and resistance levels in TRX with USD pair, the price action has been rejected by the $0.04 resistance then for some time moved above the $0.03 support but unfortunately, this support could not be retained and now the priceline is moving between $0.025 to $0.03 support and resistance levels. Bull Flag: On the weekly chart, the price action has also formed a big bull flag and also formed a symmetrical triangle. There is also a 25 simple moving average support below the support of this triangle. Big Cup & Handle: In the same TRX with US Dollar pair, on the long-term monthly chart, the price action of Tron has formed a big bullish reversal Cup & Handle pattern. There is also an exponential moving average 21 support at the support of handle. Bullish BAT move: While the price action has formed two bullish reversal moves (Bull Flag and Cup & Handle), it has also formed another bullish reversal harmonic BAT move on the 2-day chart and entered in the potential reversal zone of this pattern. Conclusion: The TRX coin has formed the bullish reversal BAT pattern at the right time when the price action has also completed bullish reversal moves on bigger time frames. Therefore now the TRX can start a long term rally at any time. For exact buy and sell targets for this trade, and other harmonic trading signals you can join: www.patreon.com
Long
by moon333
3
TRON/BTC Good entry possible with low risk -Daily Ichimoku SetupTRON/BTC is looking strong trading above the 50/100 EMA. The Tenkan ( Dark Yellow Line ) Broke above the Kijun ( Dark Blue Line ) and then went on to break the cloud. Now it's retracing from a rejection of the 200 EMA. Will likely try to break the 200 EMA ( Horizontal 2 ) again. With the SSB ( Horizontal 1 ) as good support and invalidation if it breaks down that and even more if it breaks the Kijun. If it breaks the 200 EMA resistance it has good upside potential! --------- This is not financial advice, manage your risk, and trade carefully! For a 6 month 10% Discount in fees on BITMEX you can use the link below: www.bitmex.com For a 5% Discount in fees on Binance you can use the link below: www.binance.com
Long
by VrotteOtter
TRON ($TRX) ♦️ | Tron Update is Bullish, but Bulls Need Momentum🆕 TRON 4.0 is coming out today and the trend looks solid, it is no wonder we have seen some bullish chatter and charts going around recently. While we agree that the trend looks good, we are now heading into some stiff resistance right as Tron 4.0 launches. What the bulls need here is "upward momentum on the news" (although to be fair, master marketer Justin Sun has planned a "BIG" announcement for tomorrow; so traders won't want to sell / short the news just yet). TRXUSDT is a large cap coin, as such it is heavily correlated to the rest of the market (ie. Bitcoin's movement and such). Given that, the TRX bulls will need to see TRON break away from the Bitcoin and the other large cap coins as most are currently range-bound right now. Let's chart some levels for the bulls (and for the bears as well). Support: First up we have the S1 bullish S/R flip, this is a good candidate for a shallow pullback that leads to bullish momentum. Next, we have the more substantial S2 bullish orderblock which could act as support for if S1 can't. Breaking above this point showed great strength previously, so it would be a logical level to retest. If neither of those hold, the bulls would be looking for the S3 S/R and prior price pivot point. S3 could come into play if the rest of the market shows temporary weakness and drags TRX down with it. Resistance: As you can see we have a ton of resistance on the chart, all of which was formed from the price action during the COVID crash. Firstly we have the R1 previous swing high range which contains both an orderblock and S/R flip. This is a logical place to find resistance, and we are currently testing it now. With that said, the bulls are going to hope to push ahead here and take us to the R2 S/R flip cluster before pulling back. Next we have the R3 orderblock cluster, which like R1, is formed from the previous swing high range. R4 and R5 are both order blocks formed from failed swing highs. Finally, the R6 orderblock and S/R cluster is notable in being the last line of resistance from the COVID crash. Summary: The way forward for Tron bulls betting on 4.0 and that next bit of news is clear, but it is filled with resistance. It'll be hard to break that resistance without momentum from the bulls. The news is there for Tron, but with the rest of crypto range-bound, Tron bulls will really have to step up or get lucky and see the rest of the market rally soon. Resources: thetradable.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- 1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 4-hour timeframe. This is indicative of the continued strength ETH has been showing. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines). 3. The play here is to take a long position at the S1 S/R flip + orderblock cluster with a target of the R1 bearish orderblock + previous swing high. With that in mind, we see a similar price action pattern showing up here, and while the pullback to our entry seems quite substantial, I bet everyone thought that when it first happened from 190 - 160. 4. Our stop loss is placed just below S1 as this play is all about seeing a continuation of strength and a retest of local support as opposed to a retest of the previous range. Good luck fam!
by AlphaBotSystem
3
TRXUSD extended the leg to form a bullish SharkIn my previous idea the C to D leg of Tron / Dollar was retraced between 0.618 to 0.786 Fibonacci and was likely to form bullish cypher as below: But now the D leg is extended bit more upto 0.886 Fibonacci and forming a shark pattern. Now the price action is entered in potential reversal zone. I have used Fibonacci sequence to set the targets: Buy between: 0.013921 to 0.007883 Sell between: 0.020572 to 0.033886 Regards, Atif Akbar (moon333)
BITFINEX:TRXUSDLong
by moon333
1
Tron (TRX) A Journey To Break Out Key Level Resistance $0.039Formation of BAT: On September 2019 the price action of Tron started the formation of bullish BAT pattern this pattern was completed on December 2019. After completion of BAT it was expected that TRX will take the bullish divergence from the potential reversals zone of this bullish BAT and it will soon enter in the Fibonacci projection area of A to D leg from 0.382 to. 0.786 Fibonacci level. Then on 4th January the TRX started moving up and first the priceline crossed up the 0.382 and then 0.786 Fibonacci projectionl. After crossing the 0.78 Fibonacci level it was expected that the priceline will use the 0.786 projection as a support and it will move up from here but unfortunately it has crossed down the 0.786 Fibonacci projection and again entered in the projection area between 0.382 0.786 level. Now the priceline is using 0.382 Fibonacci level as a support and now it is being consolidated at this level. Simple moving averages are still in golden cross: On daily chart the price action first crossed up the 100 simple moving average on 16th of January and retested this moving average as a support and moved up again and crossed up 200 SMA in the meanwhile both moving averages with the time period of 100 and 200 formed a bull cross on 1st March 2020. This golden cross was formed first time after the death cross of 9 September 2019. The movement of the priceline was powerful than the movement of the moving averages therefore the price line did not have the support of the moving averages with its movement and went very far away from SMAs therefore it was expected that soon the priceline will again drop on these moving averages and now we can see that the price line of TRX has dropped down and using 100 and 200 simple moving averages as support. Even tough we have seen a strong bearish trend from 16th of January up to 27th of February but these moving averages are still in golden cross that is very positive sign that these moving averages will not let the price action cross down and will provide strong support. Formation of new harmonic pattern: Now with the recent down trend the price action of Tron has completed another harmonic pattern and this time it has formed a bullish Shark pattern and entered in the potential reversal zone of this bullish Shark. Let's dig this pattern deeper to see how perfect this pattern is formed. After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection (here I have ignored some extra spike) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark pattern. After the completion of this bullish Shark pattern we have another strong support of the potential reversal zone and now it will be difficult for the price action to break down the support of this PRZ level. Now from here it is expected that soon priceline will be entered in the Fibonacci projection of C to D leg from 0.382 to 0.786 Fibonacci level. The push that the price action of Tron will have from this potential reversal zone can help the TRX to continue the bullish rally wich was started since Dec 2019. Long term resistance and support: On long term weekly chart we can see that Tron has strong support at $0.01277 and this support is not broken since November 2018. Now we can see recently TRX has formed a double bottom on this support and after the completion of double bottom it has hit the first resistance at $0.023 and this is also a very strong resistance because in the previous history of Tron it has been working as a support since Feb 2018. Once this resistance will be broken out then we can see that the price action move up to hit the next resistance level at $0.031 and after this resistance level we will have key level resistance at $0.039. Once this key level resistance will be broken out then the TRX can become more strong bullish to achieve the higher price ever in the history of the Tron. But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it. But if the priceline will breakdown the 200 simple moving average the it can move back to previous support level to retest it. I will keep posting more updates on Tron.
BITFINEX:TRXUSD
by moon333