With BTC, LTC, and ETH's rise in prices, the altcoins have started playing catch up. Ripple (XRP) and Appcoins (APPC) have made good progress in putting in a bottom. Is it Tron's turn? I could see Tron reaching back down to $0.02 earlier but with everything going up and the Chinese new year, I see more potential to the upside. We had some good volume yesterday 24 hours ago on 2/15 6pm EST but came back down pretty quickly. Still in a descending triangle formation getting closer and closer to breaking out.
If we go up, I anticipate first targets to be around the 700-750 satoshis. We have confluence using a fib extension from low of 400 sats to previous high of 630 sats. The 1.618 extension lines up within the TP1 box based on S&R levels along with a retracement from ATH to 400 sats .236 level. After hitting this level, I would expect a retest of previous structure of 620-650 sats. This is not required if we have enough volume to take us to TP2 level. TP2 has a nice confluence level as well with the same extension at 2.618 and a retracement from ATH to the .382 level, 900-1000 sats.
Let's see how TRON plays out. Comments and feedback appreciated, good luck!
If you had time, could you an EW on APPC? Much appreciated :)