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Wednesday, March 22, 2023

Will Trias bounce and break $10 soon?

TRIAS Price movement

Trias at the time of writing is standing at a price of $6.9. This is a decrease of 3.81% from the last 24 hours. Trias has a very limited supply of only 1.6M tokens in circulation with a total of 10M coins as a max supply. It had created its ATH around the price of $32.2. The fact that Trias had this much value with this much supply and many more are still to be come into circulation gives us an idea about how much good investment it is.

Technical Analysis

Trias like many other coins have a similar chart, how it dropped, how it showed an impulsive move towards the upside. Trias had been long moving in a downtrend and clearly was respecting those lines. The resistance at $10 proved to be strong and at the same time, support around $6 also proved strong. At the same time support due to the trend line was also held beautifully by the price but continued to move in the downward channel.

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The price is currently retracing to a support channel. It bounced from there yesterday and the candle closed above, showing that this support is strong. But today as market bled again Trias also dropped with the lowest it went to around $6.4.

If we draw a Fibo from the point of reversals of both side we notice that the golden ratio comes around between the Demand Zone and the current support. Now this might be not enough to say that the price can retrace here but if we look before i.e. during the impulsive move we can find that the formation of candles calls for imbalance due to the inefficient price action. These two facts gives us an idea that the movement towards this zone is very likely and probable. From this point we can expect a bounce from this zone. The price might develop slowly and the lines might show resistance to the movement. $8 is a level to keep in mind as well as $6.5.

About Trias

Trias stands for “Trustworthy and Reliable Intelligent Autonomous Systems” (quite a long name honestly). It uses TEE (Trusted Execution Environment) and use it to operate privacy protection protocols.  This allows for greater privacy on the block chain networks. TEE allows end-to-end privacy and data ownership. The whole system allows the improvement of transactions and efficiency.

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