[C&H] TRON is creating base for move up higher

26 de out. de 2024

TRXUSD seem to have broken out of a cup and handle pattern and in process of retest/consolidation. It might retest the breakout zone around 0.143 before a move up higher. Note that all time highest close (higher green line) would likely act as resistance but if we manage to break past it then we should see 0.41 levels as per the height of C&H pattern.

From Elliott wave perspective though, it looks much more bullish with a potential target of 1.12 in medium term. Will share the counts in a separate post.