Let me start off by saying that I am not a financial adviser. You should not take 100% seriously anyone on the internet. So take my advice with a grain of salt and do your own research before investing in any coin.
In short, TRX is in neutral teritory. It has some points going for it and some clear indicators that it is in a downtrend.
I will go through all of them in short, but I want to clarify first that US as traders need to be reactive to every situation. Be at a look out and do not buy TRX now.
Points for TRX: 1)Probably more news coming out tommorow from Justin Sun and Tron Twitter 2)31st Jan listing on 1 possibly 2 new exchanges 3)Low RSI levels on the 1 hour chart 4)Forming a triangle pattern
Points against TRX: 1)The 50 EMA (in orange) has been like a ceiling that TRX cant break through. 2)Low volume due to BTC currection 3)Broke it's mayor trend line
We will inevitably get a continuation to the upside or the downside. I really do not have a solid opinion whether or not TRX will move up or down. A breakdown will drag the price down to around 430 satoshi.(minor support) If that support fails, than 380 satoshi (mayor support)
Good luck and happy trading!
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Tron is ready to take off. I predict it's going to make a huge bull run between 15:00 and 17:00pm (GMT). First target 1200, second target 1600, third target 2000.
@tdk88, wait for confirmation. If you already hold trx than put a stop loss below 550satoshi.
tdk88
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@cryptoeduards, Thanks for the tip. And i must admit i was wrong yesterday. I have set my stop loss at 480satoshi. I stongly believe that TRX will make the same pattern as GAS did (is doing). No basis, but a cup is going to be formed soon.
cwkim0100
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Finally, a person with a neutral stance!!
Thank you so much!
cryptoeduards
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@cwkim0100, We as traders can't be emotionaly attached to coins. So we can't assume it will go up because it's supposed to be a cool project with a cool coin name. The graph shows us that it could go either way. Glad to see that your neutral on this one too. Cheers!