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
Tron [TRX] open for perpetual swap trading on OKEx and other exchanges
The ninth largest coin on the top 10 cryptocurrency list, Tron [TRX], has been going through some ups and downs recently. However, the Tron foundation is filling in the gaps with its other activities and fulfillment of agendas. This has led to the coin to be listed by many exchanges including Coingate. The coin was recently open for marginal trading on OKEx, as of today, the coin is open for perpetual swap trading. The platform informed about this saying:“We have launched the Tron (TRX) perpetual swap at 10:30am Jan 16, 2019 (CET, UTC+1).”
Tron’s Chief Executive Officer [CEO] expressed his gratitude on Twitter to the people for their support. Tron has been performing well outside the market and is motivating its community to be a part of the foundation. Tron was the only coin to keep from the bear, while others fell prey to it.
Apart from OKEx, aforementioned Coingate has also listed the coin and TRX payments for merchants. As reported by the company’s blog, Coingate is popularly a payment gateway rather than a crypto exchange.“By facilitating payments between TRX shoppers and online vendors, we aim to become a significant part of the TRON ecosystem and contribute to further growth of the community.”
ABCC exchange, also announced the partnership with the Tron team to become the first exchange to list TRC-10 tokens. Justin Sun took to his Twitter handle to announce about the partnership and wrote:“ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it’s the first exchange listing #TRX10 tokens. #TRON #TRX $TRX”
The exchange had also announced about the step that led many crypto-user to relate the price rise with this announcement. ABCC Exchange had said:“We are excited to announce our partnership with @Tronfoundation ahead of #niTROn2019! @Justinsuntron #ABCC is the 1st exchange that will list #TRX 10 tokens – We are one of the top exchanges with great security and user interface. Stay tuned!#Blockchain mass adoption is coming”
Tron’s momentum kept going when the ninth largest coin was listed on OKCoin which put the coin in the main game with other major coins. The press release stated:“We are pleased to announce that TRX is now listed on the OKCoin exchange. Starting today, authorized OKCoin customers can acquire TRX by depositing US dollars or Argentine pesos, and starting on January 17th they’ll be able to trade TRX against USD, BTC, and ETH.”
Will 2019 be the Year of TRON (TRX)?
While even the best years cannot help sustain bad cryptocurrency projects, the good and strong ones can do much even when years are extremely bad for crypto. TRON (TRX) has proven this in 2018 by being one of the most active and most popular projects around.
Throughout the previous year, TRON has been making great progress, setting foundations for growth and expansion, which may eventually lead to its dominance over the crypto market. Now, 2019 has barely even started, and it already promises to be a year filled with potential and all kinds of different possibilities for this coin.
TRON in 2018
2018 has started with a market crash that has brought a lot of coins down from their all-time highs. This is true for TRON as well, and it did not manage to avoid being affected by bear market, no matter what its developers did. However, instead of trying to fight the market and its trends, they focused on expansion, development, partnerships, and future projects.
The first big step for TRON was the launch of its MainNet, with dozens of listings and partnerships being announced right before the final launch. After that, the coin transferred its tokens from Ethereum’s network, it had a Super Representative election, and it even managed to purchase BitTorrent, which was a part of a secret project back then.
The project was quickly revealed to be what we now know as TRON’s most ambitious move yet — Project Atlas. In the meantime, partnerships and listings continued, making TRX one of the most popular and far-reaching coins on the market. All of this, while impressive, only serves as a means to an end, steps towards the coin’s ultimate goals — decentralizing the web and revolutionizing the entertainment industry.
TRON’s advancement became clear in late 2018 when it started launching dApps which have seen a considerable amount of usage. The number of TRX transactions skyrocketed, and TRON even managed to beat the records set by Ethereum network, which is one of the largest dApp creators within the blockchain space.
What awaits TRON in 2019?
So far, TRON has made a lot of moves, all of which turned out to be the right ones. In addition to that, its creator, Justin Sun, continues to post on Twitter, constantly updating the community regarding the project’s development, partnerships, and breakthroughs.
Many believe that 2018 — while marked by many important events — only served as a stepping stone for TRON and that its true rise to dominance will come in this, and following years. It is also important to note that TRON understands the importance of a strong community, which is why all of its projects are focusing on making the TRON ecosystem, and even the entire internet, better for its users.
As mentioned, TRON’s 2018 development was not focusing on improving the coin’s price, but rather — its ecosystem. Now, with some of the large obstacles out of the way, TRON can focus on actual growth and perhaps even dominance over other coins. It still remains a valid contender for the position of representative of the third generation of crypto, and while there is a lot of competition, TRX actually has a pretty good chance of rising above them all.
Of course, it is impossible to predict the future and tell whether or not TRON will complete its goals and bring the internet into a new age. However, so far, all of its decisions ended up being extremely good for the coin, and there is no real reason to doubt that this will change anytime soon.
Source: global coin report
TRON Foundation accused of $1M scam; TRX/USD under pressure
- TRX is vulnerable to new losses with the ultimate bearish aim at December 2018 low.
- TRON Foundation hits dApp developers below the belt.
TRON (TRX), the 9th biggest cryptocurrency with a market value of $1.6B, is trying to stage a recovery from Tuesday’s low of $0.0233. While the coin managed to gain some grown to trade at $0.024 at the time of writing, it is still down over 3% on a day-over-day basis.
TRX has been somewhat volatile during recent days as the coin is influenced both by general market sentiments and internal factors.
While TRON Foundation and its creator Justin Sun boast of new apps switching from Ethereum blockchain to Tron’s protocol, dangerous developments are brewing below the surface.
The community accuses TRON of unfair practices – to put it mildly – applied to TRON Accelerator contest. The developers have noticed a lot of violations and outright manipulations with the prize pool.
The company changed the price structure and slashed the amounts without a word of notice after the contest has finished. Infuriated developers call the whole event a scam, launched with the sole purpose to pump TRX price during the falling market.
If the company does not clarify the situation, TRX may retest recent lows of $0.0205. A sustainable movement lower will bring into focus December 28 low of $0.0182. That’s where the short-term bears are likely to pause a quest to December 2018 low at $0.0123, which will negate the recent bullish developments.