TRON to $3.11 or $42Before you crucify me... Yep I know! Market cap big big! Is that even possible? Well first target ($3.11 +22x) would put the market cap at around 190b. If I compare that to where the market is now it doesn't look likely but if I compare it to where I think the rest of the market will be by the end of the year; it starts looking more reasonable. However, the second target ($42 +340x) would put it at 2.7t... In its current state I don't think that's possible. But If there's one thing I've learnt from being in this market; it's that sometimes the chart can hint at what's going to happen well before it actually happens... So that makes me wonder what could get TRON to these crazy numbers? A massive token burn maybe? Some kind of burn function incorporated into the protocol that makes it deflationary? I'm just speculating now. Only thing I can say for sure is that if TRON gets back to my buy box I'll be loading the boat.
Key points:
A retrace back to .04c - 0.072c would be an awesome opportunity to get long
The stop-loss for this trade would be just under the 3/1 Gann fan line which is constantly moving higher
First target is $3.11 and is a confluence zone for the parallel channel and the 1/1 Gann fan line
Second target is the 1.618 fib target for a wave 3 and is also in confluence with the 1/1 Gann fan line if it takes until FEB 2022 to play out
Lets not even go into where the wave 5 is projected to go in 2024-25.
Never Trust. Verify.
D.Y.O.R. Not Financial Advice Just an Observation.
Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key . Capital preservation above all else.
