Update: TRON - where will it go next, can the support hold?
This is an update of my analysis linked below.
As can be seen from the chart, Tron fell through the 23.6% support and is now clinging to the 50 EMA.
I wanted Tron to move above the Pink line which is the upper apex of the descending triangle, but it looks like it has some difficulties.
The main observation from this update is that Tron now seems to be heading for the 4h Ichimoku cloud for the area where it is thinnest (circled in red), if it fall through here the chances that Tron can move out of the descending triangle might become even smaller.
I would wait with buying Tron until it is clear if it can make the move up (see prior post linked below).
This is just a study of Tron, don't use a financial advice.
As can be seen from the chart, Tron fell through the 23.6% support and is now clinging to the 50 EMA.
I wanted Tron to move above the Pink line which is the upper apex of the descending triangle, but it looks like it has some difficulties.
The main observation from this update is that Tron now seems to be heading for the 4h Ichimoku cloud for the area where it is thinnest (circled in red), if it fall through here the chances that Tron can move out of the descending triangle might become even smaller.
I would wait with buying Tron until it is clear if it can make the move up (see prior post linked below).
This is just a study of Tron, don't use a financial advice.
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