TRX/USD Medium-term Trend: Bearish
Supply zones: $0.02500, $0.02600, $0.02700
Demand zones: $0.01000, $0.00900, $0.00800
TRX is in a bearish trend its medium-term outlook. The retracement to the upside by the bull after the drop from the 61.8 fib level ($0.01439) got terminated around the 50 fib level (0.01396) in the supply area on 12th December.
The bears resumed the downward journey before the end of yesterday with a drop in price to $0.01355 as a bearish inverted hammer was formed.
The 4-hour opening candle was bearish at $0.01356 and this sustained the bearish pressure with the coin down at $0.01334. Price is around the two EMAs and the stochastic oscillator signal points down at 48%. This suggests further downward price movement in the medium-term.
As the bears’ pressure becomes much stronger a retest at $0.01110 in the demand area is possible in the medium-term.
TRX/USD Short-term Trend: Bullish
The cryptocurrency is in a bullish trend in its short-term outlook. After it dropped the cryptocurrency at $0.01334 in the demand area the bears lost control to the bull.
Confirmation to the bulls takeover was seen after the bullish marubozu candle broke the two EMAs at $0.01347. TRXUSD is currently up at $0.01370 in the supply area.
The key supply area at $0.0140 is the bulls’ initial target. A break above and retest at this area will imply bullish continuation while a rejection suggests a possible return of the bears.
Price is above the two EMAs and the stochastic oscillator at with its signal pointing up. This means upward momentum in price as the bulls’ pressure becomes stronger in the short-term.
Source: Bitcoin Exchange Guide
Is Justin Sun Buying His Twitter Followers?
Justin Sun is the popular CEO of the decentralised project, TRON and according to a recent analysis of Suns new 50,000 Twitter followers, it seems that 20,000 of them are zero-day accounts created this month with next to no followers of tweets.
A researcher focusing on Twitter bot manipulation, Geoff Goldberg says that many of these 20,000 Twitter account all have something in common such as the barely any followers, tweets nor profile pictures.
Furthermore, they all also have eight numbers after their ‘name’ which is an indication that they are mass created by some kind of software.
In mapping these accounts by the date they were created shows that, for the most part, they are made very recently and they are most likely fake.
The research shows us that in this year alone, tens of thousands of accounts were created and that they all happen to follow Justin Sun who recently just bragged about passing one million followers which is more than the co-founder of Ethereum, Vitalik Buterin.
One particularly revealing fact is that around 60 percent aren’t following a lot of people. This is based on a sample of 2,000 out of a million so some errors are to be expected. Trustnodes wanted to do a comparison, so they did it on their own Twitter account, on a sum of around 4,000 followers.
Trustnodes found that “followers use spam keywords on their profile, whatever that means. An incredible 99% have a language different from Trustnodes, which is obviously incorrect. Most of them do use English, although of course cryptos are global so there are followers from across the world.” They continue saying that:
“Other factors that probably can be discounted includes location issues, that is people saying they live on Mars with Elon Musk. URL issues obviously doesn’t say much. Times Listed… who even uses lists? And probably number of followers doesn’t say much depending on at just what level they deem them suspicious.”
The date when the accounts were created is a dead giveaway. With Trustnodes, around 1 percent of them are new but Suns are more near the 50 percent mark.
So does Justin Sun buy his followers? The TRON founder has made responses to the claims that he does, but surely it is better for him to make some kind of response sooner rather later?
Tron (TRX) Now Available To Over 10 Million Users On eToro Social Trading Platform
One of the world’s first social trading platform eToro, with over ten million registered users, has added Tron (TRX) to its platform bringing to total all the cryptocurrencies available on its platform to 15. This was announced by Tron’s CEO Justin Sun in a tweet.
eToro adds #TRON’s TRX, #TRX becomes the 15th cryptoasset available on @eToro platform. #TRONICS can buy or sell $TRX using fiat on eToro via #Visa, #MasterCard, #Paypal, #UnionPay, #Webmoney, #YandexWallet and other payment platforms.😎 https://t.co/gFzSD20lB3
— Justin Sun (@justinsuntron) March 25, 2019
“With our listing on eToro, we’re giving TRX holders another great platform on which to manage their assets, These steps will help grow the blockchain community and expand our reach around the world.”
eToro is a multi-asset brokerage company with registered offices in Cyprus, Isreal, and the United Kingdom. It trades cryptocurrencies, stocks, ETFs, currencies, and indices on its social trading community. eToro has been around for more than a decade, leading in revolutionalizing the global Fintech.
According to a comment by eToro co-founder and CEO, Yoni Assia, Tron is a progressive company with big ideas, though very young in the Fintech industry, it has proven its capability to execute on big ideas.
“TRON is making fast progress towards lofty ambitions and has rightly garnered the attention of the crypto community. Given the relative youth of blockchain technology, investors in crypto-assets are investing in big ideas and seeking out companies that execute on big ideas. Tron certainly ticks that box. At eToro we look to offer investors access to crypto-assets that already have some clear success behind them.”
Among the digital assets added to Tron on the eToro platform are Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, BNB, and ZCASH.
Tron market overview: TRX goes live on eToro plus Justin Sun to build a monument in the memory of Ethereum
- TRX support brings the total number of assets eToro trading platform to 15.
- TRX will be added to eToro’s CryptoPortfolio.
- Vitalik Buterin, the founder of Ethereum “will be remembered for his tremendous contribution in blockchain industry.”
The leading social trading platform, eToro is reported to have added support for Tron (TRX). eToro is among the world’s fasted growing cryptocurrency investment platforms. It boasts of having more than 10 million customers.
Starting today, TRX will be available for buying and selling on the social trading platform. TRX support brings the total number of assets on the platform to 15. The CEO of eToro Yoni Assia said in a comment:
“TRON is making fast progress towards lofty ambitions, and has rightly garnered the attention of the crypto community. Given the relative youth of blockchain technology, investors in crypto-assets are investing in big ideas and seeking out companies that execute on big ideas. Tron certainly ticks that box. At eToro we look to offer investors access to crypto-assets that already have some clear success behind them.”
The founder of Tron Justin Sun said that support on eToro is a step in the right direction and will help the network expand to new regions around the world. Sun said:
“With our listing on eToro, we’re giving TRX holders another great platform on which to manage their assets. These steps will help grow the blockchain community and expand our reach around the world.”
In addition to the above support, TRX will be added to eToro’s CryptoPortfolio. The portfolio was introduced to help investors diversify their investments.
In other news, Justin Sun shared on Twitter on March 24 that once Tron succeeds, the network will erect a monument in memory of Ethereum. He added that Vitalik Buterin, the founder of Ethereum “will be remembered for his tremendous contribution in blockchain industry.”
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