Tron (TRX) Technical Analysis: 7-Month Bullish Inverse H&S Pattern Complete, When Moon?
Cryptovest
Published Apr 09, 2019 07:18AM ET
Updated Apr 09, 2019 08:21AM ET
Tron (TRX) Technical Analysis: 7-Month Bullish Inverse H&S Pattern Complete, When Moon?
The Tron Foundation has recently released the expansion plan of its secondary scaling solution, the ‘Sun Network’.
The Sun Network is a system update that plans to improve Tron’s efficiency by introducing dApp sidechains and interoperable cross-chain features. By doing so, the Foundation claims that this will ‘improve the overall TPS’ as well as reduce the energy consumption of dApps.
The deployment of the Sun Network has been broken down into 3 phases spread out over the next 5 months.The Sun Network testnet launch, scheduled to go live on May 30, will be the first phase, followed later on in the year by the official launch and optimization stages due on August 10, and September 15 respectively.
The new announcement has arrived at a fortunate time just as Bitcoin and a vast majority of altcoins correct from the recent bull market. TRX is currently the best performing asset among the top 30 cryptocurrencies today with a 7.12% gain against the US dollar and a 7.76% lead over Bitcoin.
Looking at the 1D TRX/USD chart (below) we can see that Tron appears to have finally completed a 7-month long inverse head and shoulders (...
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