#波场ETF #TRX #TRXUSDT

On the news front, Canary Capital has applied for a spot ETF in the United States, which will track the price of TRX tokens from the Tron network and include staking rewards. If approved, this will be the first Tron ETF in the United States, joining a wave of altcoin ETF proposals currently under review by the U.S. Securities and Exchange Commission (SEC).

From the chart perspective, #TRXUSDT has been in a sideways trend for nearly 5 months since last December. During these 5 months, using Binance bots for arbitrage would have been very suitable. However, despite the many speculative narratives and news surrounding this coin, it cannot escape the fate of being an altcoin.

The recent 5-month sideways consolidation indicates that the Tron team has adequately prepared for the ETF application. At least, there shouldn't be a significant loss effect. The team must have done some stabilization work.

Regarding the upcoming operational logic, I personally feel it is not very suitable for entry. There is support and resistance below, and a dense area of chips. Whether it can push up depends on ETF news stimulation; regardless of whether it passes or not, the ultimate direction cannot escape the common fate of altcoins. One could lay low at the bottom of the box. Currently, it is in the high range of the box. Even if the ETF is approved, there will still be significant fluctuations, so using bots for arbitrage is better. Short-term trading is still quite challenging. 👊👊👊👊

This is a personal opinion and should not be taken as investment advice. Comments, likes, and shares are welcome.