TRON — Healthy Correction Or Going Parabolic?
I mentioned it a couple of days ago. Tron's chart is one of the most sustainable out there.
• Growing HEALTHY since November '22
• Did only retrace moderately after March's peak
• Doesn't look over-heated despite a >200% growth
During the last few days, Tron has been crushing it:
• Pumped almost 40%
• Entered the top 10 by market cap (replacing ADA)
• Entered the upper band of its upward channel and touched the upper resistance.
So, what's next?
If Tron follows its path of the last years, we won't see it go much higher at this point. Instead, it will consolidate and gradually move higher. However, I expect Tron to stay in the upper band.
Can it go parabolic?
Sure, it can. However, from my perspective, it needs broader market support. I don't see Tron going parabolic as long as Bitcoin doesn't break out to the top.
