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TRXUSD trade ideas

TRX Breaks Bull Pennant & Shoots For $0.20-TRX breaks out of week long bull pennant -Bears defend $0.15 as key resistance -12 hr stochastic RSI Indicates there is more juice in the tank 
 TRON , the 17th largest cryptocurrency, has had a bullish week rising nearly 45% from its low of $0.10 on April 8th. Along with this rally, other top altcoins have joined the party such as Binance Coin (BNB), XRP and Stellar Lumens (XLM). This may only be the start as TRX has broken out of its been pennant rallying nearly 20% today. At the time of writing, TRX is in limbo between two important support & resistance zones as the bulls try pushing for a new 2021 ATH. The immediate support level is near $0.138 which happens to be the previous high of TRX set on April 5th. After the price broke out & retested its bull pennant, TRX quickly reached immediate resistance level of $0.151. The bold resistance level of $0.151 is the mark for TRX to break and hold to have a shot reaching one of the last resistance levels ($0.20) before all time high. If the bulls fail to break this level we can expect the price of TRX to stabilize in the $0.127-$0.138 zone. Viewing the Stochastic RSI (blue and orange), bullish sentiment is seen as a 4 day reset in oversold conditions have shot the value past 50 confirming a bullish upswing. This indicator is considered to be bullish anytime the blue moving average is above the orange moving average. Looking at the Relative Strength Index (RSI), the value has crossed into overbought conditions which is where the large bullish price movements occur. These conditions indicate TRON has switched to bullish mode and the bulls aren’t tired yet. 

TRX intraday levels Spot rate: $0.146 

Trend: Bullish

 Volatility: High

 Support: $0.138
 Resistance: $0.127

BINANCE:TRXUSD
by CoinGape
2
TRON Ecosystem Ready for Liftoff! (Elliott Wave Analysis)After doing a detailed Neowave/Elliott Wave analysis with Neowave Founder Glenn Neely, we came up with several potential counts for TRX. The above count is what I personally think is the most likely possibility because it follows all required rules as closely as possible compared to the other counts. Of 5 possible counts, 4 are bullish, and 1 is bearish but near term could still be bullish. Also out of the counts the above one is the one that makes the most sense BY FAR and I will only be considering the others if there is more information which eventually confirms one of those as being correct or the above chart as being incorrect. Reasons why the above chart is nearly perfect: In the first triangle: Wave-a of the first triangle is violent as is expected in a contracting triangle Wave-b is longer in time than wave-a Wave-c is equal to (a+b)/2 and relates to wave-a by 62% in price Wave-d is equal to (b+c)/2 in time and 38% of wave-b in price Wave-e relates to (c+d)/2 in time Wave-x retraces less than 62% of the contracting triangle The first contracting triangle and the 2nd contracting triangle with reverse alternation have perfect alternation between them: In 1st triangle wave-a and b are short and strong, in 2nd triangle they are long and weak In 1st triangle wave-c is long and weak, in the 2nd it is short and strong In 1st triangle wave-d is small and weak, in 2nd it is big and strong In 1st triangle wave-e is very short, in 2nd triangle wave-e is very long In the 2nd triangle: Wave-a is slow and weak as expected with reverse alternation Wave-b is equal to wave-a in time and retraced wave-a 62% Wave-c is equal to (a+b)/4 in time, and equal to wave-a in price Wave-d is equal to (b+c) in time, and equal to 162% of wave-b in price Wave-e is equal to (c+d) in time, and equal to 62% of wave-a Because there are virtually ALL required NeoWave time and price ratios, and because the triangles have perfect alternation between them, the evidence is STRONGLY favoring that we are about to complete this correction and see a MASSIVE move upward over the next few months. This perfectly coincides with a new NFT protocol being released on TRON and promoted by celebrities like Lindsay Lohan and NeYo who are very popular in both China and the US. As well as several smaller TRON-based projects reaching significant milestones in their development, and increasing marketing efforts by the developers and third party promoters. TRX is also getting close to having a deflationary supply as the amount from fees burned begins to overtake the amount of block rewards that are earned by the Super Representatives. As usage of the network continues to increase at a logarithmic pace so does the amount of fees burned, which is likely to lead to most of the supply of TRX being burned over time. Early targets are $1-10 for TRX by this summer, and could go as higher than $100 by next year. Very late stage targets (within 10 years) could be higher than $10,000 as most of the supply of TRX will be burned and demand will have increased massively. Projects on TRON that I also like which could potentially be more profitable than TRX in the long term: BTT, JST, SUN, WIN, KLV, KFI and BTZC
BINANCE:TRXUSDLong
by Intuit
11