TRX – Mainnet is released on 30th August
TRX has been known as the next upcoming coin after Ripple based on token supply schedule and marketing teams.
We saw a 30% pump as a result of the partnership deal with OCN.
This pump could see a bullish pump of 70% or a bearish pump of 50% in time for the 30th August in One Week.
They have been readily testing the net since the 30th June 2018, with market sentiment illustrating a reversal on bearish impressions.
According to Justin Sun, the CEO, they “are doing a lot of tests…like the pressure test…volume test…to make sure it works very well when we launch.”
They are aiming to compete with both big dogs, BCH and Ethereum to see who has the better DAPP Platform.
On the 30th August, there will be a live stream – illustrating Market sentiment will hit an all-time high.
What about this trade?
Based on both the rising market sentiment and the traditional sky high bounces in Cryptocurrency owed to Mainnet launches, we should see a BULLISH PUMP of 70% and a BEARISH pump of 55.4%.
This is based on the Bull Pennant that can be seen in the chart below, if it is able to surpass the 0.025 level where there is a huge buy/sell wall, we could go as far as 0.34 where the 0.618 Fib is.
Moreover, the RSI Stochastic is illustrating both heavily oversold and ready to pump.
Enter a trade based on the bull pennant to $0.01952-0.01962 based on the rising volume and the RSI Stochastic cross overing from the oversold position of 10.
Take profit at either the Bearish scenario of $0.0289 taking 55% profit.
Take profit at either the bullish scenario of $0.0329 for 70.46% profit.