TRON (TRX) This project has the potential! | 10% To @tron-fan-club
Hello and welcome to episode 19 of TA (Technical Analysis) Today we are diving into The TRX Token!
Last time when we discussed this token, the price was seen taking support of a higher-high trendline but from then till now the picture has changed a lot. That support was broken long ago and now the price seems to be taking support of a horizontal area which you can see marked as the lower white support zone in the chart given below.
First, let us understand the importance of this support. Do you remember that 100% mega move of 3rd December 2024? Before that move, big volatility had started in the price from November itself, after which there was a big jump in the price on the 2nd and 3rd of December and the price did not even turn back after breaking the previous high.
The break of the previous high shows the aggressive dominance of the bulls and the directional move of the price after that break indicates how much buying took place there. Now even if the price has not sustained at higher levels, the area from where that bigger move started will be seen as a strong support and a buying zone. Something similar is happening with this token right now!
I do not know where the price will go in the near future; certainly, no one knows this. I am not a short-term trader, I have invested in this project believing in its future and I plan to buy it on every strong support because I do not know when this will happen but I do know that this project has the potential to grow not only 100 but even more than 1000 percent.
Upvoted! Thank you for supporting witness @jswit.
I am really positive about the project of Tron. It will certainly do well in years to come