If you look at the beginning of the last big rally (end of 2017), We can see the same sort of form on a resistance line and a little consolidation before a mega breakout.
Right here, we may be in a similar scenario. Take a look at the fib retracement levels from the last run. We are between the .236 and .382 levels, which have been acting as suppport / resistance. The other fib levels have stayed pretty important to price action as well. They may provide good entry and exit points on this carnival ride.
If Tron is in fact ready for another run, let's now turn to our good friend . I see 2 scenarios. Either the recent rally is wave 1, or it is wave A of an correction after a 12345 wave going down. It is really hard for me to tell right now, but further price development should give us an idea of what's to come.
Now, let's discuss HYPE! Tron's Mainnet is scheduled to launch May 31. This is sure to provide some sort of interest in the coin, but how much?
So this is why I don't really think it matters whether it's or 12345, as long as we can break this resistance. If it is an correction, we may begin a 12345 movement up again right after completion of the C wave. If it is wave 1, great! But traders should wait for the resistance to break (where the formed) to enter, and consider taking some amount of profit at the given fib / resistance levels, and re-entering at the nearest beneath it, or if that resistance gets broken before the is reached.
Lastly, if you would like some inspiration take a look at the chart for XVG. They had some positive news, and the hype kickstarted their cycle.
That coin is almost revisiting its previous highs. So why can't Tron?
I am by no means trying to shill Tron. It is good to stay cautious, and not marry a single trade. There's many alts that are looking good, but none of that matters if bitcoin flips shirt again (or so we say).
Here's a quote to live by: "The market is, until it isn't" moral of the story, practice proper risk management! Set stop-losses so your weak hands don't get the better of you.
Happy trading! :)
***Trade at your own risk, it's a volatile market with outcomes unknown***
Still strong, far way to travel