After almost going to $0 from $6, Trilium (TLM/USD) sure has tested the patience of its investors who soon could be rewarded with a breakout. Tlm has been trading almost at the same levels since April and a rally is due soon. However, investors must be cautious with a coin like Tlm which has been continuously falling ever since it was listed and should only take long positions once a clear breakout with good buying volumes is seen.
A look at this years charts-
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After falling by over 95% in April on the day it was listed Tlm has been trading below the $0.50 zone.
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Tlm has formed a symmetrical triangle and has consolidated in a very tight range this month which is indicating towards a breakout very soon.
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Tlm has been trading in symmetrical triangle ever since it was listed and once a breakout is seen, Tlm could yield some huge results
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Investors must be cautious with Tlm as it has been falling ever since it was listed thus investors must be patient and wait for a break on the upside with good buying volumes.
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Investors who do not want to take on a lot of risk can also wait for Tlm to retest the trendline before entering.
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An entry can be taken above $0.338 and a stop loss can be set below the demand zone at $0.295
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Tlm could hit some huge targets such as $0.42, followed by $0.585.
Conclusion
Tlm could start a rally soon however investors must be careful and only enter once a breakout is seen and must be cautious by setting a stop-loss.
