TRX long Target .042 - .048 short-mid term
Tron continues to show strength and a consistent uptrend since potentially bottoming on Aug 12 - TRX had a strong test of that bottom one month later. Despite the widespread disillusionment surround most crypto projects TRX continues to push forward and infiltrate minds and curiosity. I've been in Crypto since 2013 and It is my strong belief that XRP, OCN (strong ties to Justin Sun) all share similar characteristics in regards to the kinds of retail traders they attract. These traders are greedy & naive towards supply - the notion that large supply amount bought at pennies on the dollar will one day make new retail traders rich AF in the future continue to entice new retail traders into XRP, OCN and TRX.
We've seen what happened with the crowd this past month chasing XRP price 200%, as well OCN. TRX has offices in SF and manages to be influential across every geographical location. Most people were under the impression (myself included) that TRX was a giant scam, but the team has continued to grow and demonstrate that they are wholeheartedly trying to build something massive.
The big reason for this trade remains, the greed, stupidity and irrational price chasing plebs will do once this asset breaks out. The size of the various
social media channels guarantees a word of mouth network that is explosive once engaged.
From a TA perspective, .02130 is strong support and a crucial zone to hold. .02802 remains resistance, it's been tested once any break out with velocity above this range will spark a retail stampede like OCN, and XRP had these past few weeks.
TRX has demonstrated rapid price expansion in it's past regarding full fomo breakouts.
TRX long Target .042 - .048 short to mid term expectations.
We've seen what happened with the crowd this past month chasing XRP price 200%, as well OCN. TRX has offices in SF and manages to be influential across every geographical location. Most people were under the impression (myself included) that TRX was a giant scam, but the team has continued to grow and demonstrate that they are wholeheartedly trying to build something massive.
The big reason for this trade remains, the greed, stupidity and irrational price chasing plebs will do once this asset breaks out. The size of the various
social media channels guarantees a word of mouth network that is explosive once engaged.
From a TA perspective, .02130 is strong support and a crucial zone to hold. .02802 remains resistance, it's been tested once any break out with velocity above this range will spark a retail stampede like OCN, and XRP had these past few weeks.
TRX has demonstrated rapid price expansion in it's past regarding full fomo breakouts.
TRX long Target .042 - .048 short to mid term expectations.
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