In this volatile cryptocurrency world, it is incredibly important to keep a close eye on current and potential future market trends. For those who favor Tron – or TRX – the future of this currency can easily swing both ways. Especially in the TRX/USD department, things will get very interesting over the coming days and weeks.
To Bullrun or not to Bullrun
As one would come to expect, there is a genuine chance any cryptocurrency will go through its own bullrun pretty soon. Whether or not that momentum can even materialize, is a different matter altogether. For Tron, the coming days may prove to be crucial in terms of seeing a bullrun materialize. If unsuccessful, the market will most likely enter sideways trading and even dip to $0.019 in the days to come.
A successful bullrun will, according to AttilaAtillafx, only occur if the Tron price can successfully break through to $0.023. Based on the current TRX price momentum it would appear there isn’t necessarily anything to be concerned about in this regard. As this altcoin has surpassed the identified key resistance levels already. As such, it would appear things will get pretty interesting in the coming days, assuming the positive momentum remains in place following the weekend.
Potential Reversal Looms Ahead
Despite the current bullish momentum, it has become apparent this Tron price uptrend might not necessarily remain in place for much longer. More specifically, the chart created by Boyunayim seems to indicate there will be a Tron price uptrend to the $0.024 level. Once that target is reached, however, it would appear there will be an immediate price reversal moving forward.
This particular Tron price decline can get very problematic, assuming it will effectively materialize. More specifically, there is a genuine chance the TRX price will drop by nearly 10% in very quick succession by the time Wednesday comes around. That would negate this entire recent bull run for Tron, although it remains to be seen how this chart will play out. Not all of these predictions come true, after all.
The ETH/TRX Rally Intensifies
Whereas most Tron price enthusiasts do not necessarily spend a lot of time looking at the price chart of Ethereum, there is a good reason to be so regardless. A chart shared by Bitcoinseoul seems to confirm there is a correlation between ETH/USD and TRX/USD charts at this time, although it remains to be seen how things will play out in this regard.
In fact, this user seems to indicate the Ethereum price chart will outperform the Tron price over the coming weeks. That in itself would be rather interesting to see, although there is an equally big chance a head-and-shoulder pattern is forming on the ETH/TRX chart in some way. That in itself would be rather intriguing for many different reasons. Even so, comparing the two currencies to one another might not be the best approach under the current circumstances.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.