TRX/USDT : Waiting for clear trend validation (Triangle Pattern)

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily Chart Basis -------

TRX/USDT : Waiting for clear trend validation (Triangle Pattern)

Context
The TRON chain and its native token TRX have managed to outperform the major cryptocurrencies amid the recent market crash. The successful performance of TRON’s stable coin USDD has made a major impact on the surge of Tron’s total value locked (TVL).
However looking at the technical elements, TRON is shaping a consolidation in triangle pattern which can triggered either a bullish or Bearish exit. A clear directional signal will be provide by surpassing or penetrating the Tactical Neutral levels.


Market configuration

- Graphical Elements :
Graphical support = 0,052 & 0,011

- Mathematical Indicators:
EMA ( Exp Moving averages) are supporting the market - however globally flat following the triangle wave = Neutral
RSI indicator (below) is at 50% = Neutral

- Elliot & Harmonic Wave (Fibonacci):
(i) Intermediate consolidation in 'Triangle' (a) (b) (c) (d) (e) (X) is in progress (Blue line)
Fibonacci resistance in the current wave (d) = 0,1040
Fibonacci support of the wave (e) (X) = 0,0520
Fibonacci Bullish Target = 0,2610
(ii) Consolidation in classic downside range (Flag) - (X)
Fibonacci bearish Target = 0,02390

Conclusion

At this stage to early to give a directional picture on TRON on the mid-run, even if at this stage there is a slightly preference for a bullish exit, the global crypto situation is tricky and the last recovery on TRX is coming from the launch of a new Stable coin. It would be more secure to wait a clear directional validation before taking position.

Neutral case (i) => Holding above 0,0520 and bypassing 0,1040, a triangle bullish exit will open 0,2610
Neutral case (ii) => Holding below 0?1040 and penetrating 0,0520, a classic downside trend will open 0,02390