Finally, TRX shows us some bullish movements by breaking the downtrend line with a significant increase in volumes. Moreover, the bottom of the corrective wave (4) fits to the top of the first wave - Elliot wave principles are still valid.
MACD indicator shows no divergence between the TRX price and momentum in the previous impulses, which gives us a reasons to anticipate a continuation of the current trend.
Also, because of the strong (3) wave (+834%) there’s a huge probability for the current wave (5) not to reach the peak of the previous impulse, Elliot called this phenomenon the “truncation”.
MACD indicator shows no divergence between the TRX price and momentum in the previous impulses, which gives us a reasons to anticipate a continuation of the current trend.
Also, because of the strong (3) wave (+834%) there’s a huge probability for the current wave (5) not to reach the peak of the previous impulse, Elliot called this phenomenon the “truncation”.