TRX/BTC: Ranging around support
Taking a look at the TRX / BTC pair here. Looks to be ranging around support at 280 sats, with resistance at 390 sats. I highlighted two scenarios here with projections, one in purple and one in red. The red line is what I think will happen if we break support with confidence, likely will be headed lower to potentially test a level like 200 sats.
IMO the more likely scenario will be the purple line if BTC does not break down like crazy and bring a bunch of alts down with it. I think that likely TRX will range here for a little while longer, and I could only really picture a breakout if BTC and ETH convincingly broke upwards, for now, momentum looks slow here.
Some dates I would be paying attention to would be January 17-18 ( coinmarketcal.com/en/event/2-day-tron-summit-17421 ) where the Tron Nitron Summit is taking place. At this Summit, Kobe Bryant will be speaking, source: ccn.com/nba-legend-kobe-bryant-to-speak-at-trons-crypto-conference/ . This seems to be legit news, and if this is the case, I may look to see some pumping / green action on TRX in the beginning of January into the Summit. For a long bids under 300 sats are placed and hopefully, Kobe can get us out of this range (upwards).
Disclaimer: This is not financial advice in any way. I am not a financial advisor. I am a Dragon.
IMO the more likely scenario will be the purple line if BTC does not break down like crazy and bring a bunch of alts down with it. I think that likely TRX will range here for a little while longer, and I could only really picture a breakout if BTC and ETH convincingly broke upwards, for now, momentum looks slow here.
Some dates I would be paying attention to would be January 17-18 ( coinmarketcal.com/en/event/2-day-tron-summit-17421 ) where the Tron Nitron Summit is taking place. At this Summit, Kobe Bryant will be speaking, source: ccn.com/nba-legend-kobe-bryant-to-speak-at-trons-crypto-conference/ . This seems to be legit news, and if this is the case, I may look to see some pumping / green action on TRX in the beginning of January into the Summit. For a long bids under 300 sats are placed and hopefully, Kobe can get us out of this range (upwards).
Disclaimer: This is not financial advice in any way. I am not a financial advisor. I am a Dragon.
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