Despite huge volumes and mass hysteria surrounding the coin, Tron has still often been labelled as a "s!@t coin" or "the world's biggest pump and dump". Despite what you may think about the long term future, it is still possible to make short term gains from $TRX, and here are a few key indicators that I believe could infer as to the future price positioning of Tron:
A - The obviously "cup-and-handle" formation. A rounded bottom followed by a slow decrease is a tell tale sign of a cup-and-handle formation taking place. This is a key piece of ammo in any crypto traders armoury and it looks to be the case here. N.B. The post C and H formation trend is to return to the previous trajectory before the start of the move therefore it remains up to individual discretion to determine if the pre-formation moves were worthless hype or genuine price movements reflecting value.
B - Massive volume spike. A key indicator for C and H forming. However, with the absence of a similar spike in volume at the end of the cup, it could indicate that this is a false indication and the formation has been broken.
C - MACD parallels. Little/no change in MACD highs and lows whilst lower lows then higher highs during the cup could indicate that no breakout is likely. However, if the MACD is dissected further (see below) and at different time intervals it could be seen to be showing movement patterns, but in my opinion these are too weak to have any legitimate, big-scale effects.
D - Flat top. The key to predicting that start of the handle in that it should be level with the top of the start. Here this is not the case with D' showing a massive spike beyond the top of the cup. However, due to the nature of TRX and the nature of crypto in general, this could very easily have been a "hype-spike" and hide the true start of the formation. Furthermore, the large levels of resistance could indicate the start of the cup being along line D, despite the spike beforehand.
Conclusions:
Always be wary when trading TRX as, due to the very nature of it, it is very susceptible to speculative movements. However, due to the reasons stated above there is merit to believing in an immanent price hike, so it could be worth closely monitoring over the next couple of days.