Welcome to another update on TRON. This is about the only coin I publish TA on nowadays since the other coins are covered by a lot of people already and I mainly focus on Forex. Please also refer to my earlier ideas linked below.
As we can see, Tron has been following the upper apex of the descending triangle since I first drew it. It functions as our main resistance and is only invalidated when Tron break out above it AND stays there (closes above it). As it looks now though Tron seems unable to move above it at all and I am curious what would happen if it can't move out of it. Will we see more sideways movement or will the support break? If the support doesn't hold we will need to evaluate how deep Tron potentially might go. This gives us good opportunity though to strengthen our position though if this happens.
In my opinion there is no doubt that Tron will continue climbing again. Even with all the FUD surrounding this coin it is not as bad as people think. Just look at Ripple; hugely overvalued and now plummeting and barely recovering but NO FUD. So what does that mean for Tron? I think that it means that as I stated in earlier posts, that it is a solid coin. Not based on what the fanboys and girls write or wish for, but solely based on the fact that with all the negative news it is still doing relatively well considering the how bad the whole market is doing. Speaking of the market, it seems it is doing better so now we just have to wait till this starts projecting on the less known coins.
Also if Tron goes lower, I believe that this will just bring in more investors and as said I will use this to strengthen my position.
ON A FINAL NOTE: Tron might have gone down vs. Bitcoin but vs. the Dollar it is still 5 cents!
alot of this downwards trend is the Bitcoin and ETH down trend and a dull market once the march pops its head around the corner and April the tax seasonp part II we could se a much better crypto market so , any downward trend is a positive attempt to buy in
sure, it will go up and down until the majority looses...... as all crypts do. Then again, maybe people are catching on and the majority are no longer recommending to others. Maybe crypto will die..... that would be a good thing in my book.
UnknownUnicorn1121585
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@MarvTron,
Why are you so sour?
savenido
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@AlfredoCollado, he purchased tron at 20 cents or higher no doubt lol
epitome
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@MarvTron, I don't think crypto will die. After I read Satoshi's whitepaper on Bitcoin some time back I realized that it is here to stay if we like it or not. Try to read it if you find the time. Embrace the change, crypto will bring power to the people even if it being exploited by the rich at the moment (full cheesy mode engaged, but seriously). Crypto dying is like undoing the invention of the wheel; once you see it you can't do without.
MarvW68
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@epitome, yeah, you're probably right about it not dying...... It's right up there with the lottery. Only thing is, people understand the odds of winning the lottery.
epitome
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@MarvTron, you might be right in some sense, but unlike the lottery there is an underlying technology here that can be used as an answer to challenges we are faces in today's world. Tron might be a little like a lottery though, they have an idea but there is no actual product, so putting your money in it has it's risks.