RXUSD Weekly Chart
Analysis
Our TRON fundamental analysis starts with a look at the
weekly chart. The TRON/USD pair from a weekly chart perspective offered great
swing trading opportunities to take advantage of. Similar to most Altcoins, the
price of TRON grew by roughly 13,000% following the development of a bullish
accumulation pattern on November 20, 2017. A double bullish accumulation
triggered on December 25th 2017 confirmed the bullish rally.
The bullish price surge of 2017 ended as a bearish inside
bar was formed, and a price close below the inside bar low in combination with
a bearish accumulation confirmed the bearish trend formation.
On April 9, a bullish accumulation pattern established a
bullish support level at 0.03381370, and result in a 133.5% price correction of
the bearish trend. The pair resumed a bearish trend decent from the formation
of a hidden bearish accumulation pattern triggered on May 21. This brought the
pair to an 81.9% low.
Click here to know more about cryptocurrency
technical analysis tool
No comments:
Post a Comment