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TRON Price Prediction: Did TRX Just Break Down From the Support Line of the Triangle?

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TRX price prediction for February 10, 2019. We look at TRON on many different time frames and predict where its price may go using technical analysis.

Long-Term Outlook

Tron Weekly Chart

A look at the Weekly chart for TRX shows that price is trading at $0.026, slightly below the main resistance area near $0.03.

The current weekly candle is an inverted hammer, which when found in an uptrend usually signifies a reversal.

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The RSI is at 52, indicating neither overbought nor oversold conditions.

The MACD is moving up with strength but is not positive yet.

Price is above the 7-period MA and below the 21 MA, which looks to be getting ready to make a bullish cross.

Medium-Term Outlook

Tron 3-Day Chart

A look at the 3-day chart gives a bearish outlook.

We can see that price reversed after facing resistance from the 50-period MA and the edge of the cloud.

Until now the price has been unsuccessful at breaking through the Ichimoku cloud.

Furthermore, there has been significant bearish divergence occurring in both the RSI and the MACD.

Finally, the MACD is close to making a bearish cross.

However, the 7 and 21 period MAs have made a bullish cross and are giving support to price.

Tron Daily Chart

A look at the Daily chart solidifies the bearish outlook of the 3-day chart.

There is an even more pronounced bearish divergence in both the RSI and the MACD, the latter having made a bearish cross and moving downward with strength.

However, the daily candle is a hammer, indicating that there is still some buying power left.

Short-Term Outlook and Price Prediction

Tron 6-Hour Chart

A look at the 6-hour chart shows that price is right at the edge of the support line.

While price broke below it, we still have not had a candle close below.

There is bullish divergence developing in the RSI, contradicting the findings on the 3-day and daily chart.

TRX Price Prediction:

I believe that price is facing too much resistance and during this week will break down and fall to the support area near $0.018.

Conclusions

  • There is a medium-term bearish divergence.
  • Price is struggling to break out of the Ichimoku Cloud.
  • Price is right at the support line of the triangle.

Source: blokt

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Tron (TRX) Posts New Block Height Best with Justin Sun Advocating for Mainstream Adoption

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Justin Sun, the CEO of Tron (TRX), has been a very powerful force in the crypto marketlately. He has been leading a movement to push crypto forward and to reach mainstream adoption. In order to make this happen, he is making several upgrades on the Tron network that will lead the company into becoming a better product and to have partnerships with several other companies.

In fact, the Tron Foundation is set to help the world to finally reach the so-called Web 4.0, which is said to be the future of the internet. The company has two strong competitors, though, EOS and Ethereum (ETH), which are all competing for the place as the main king of the decentralized platforms together with Bitcoin (which is more focused on crypto transactions).

Now, Justin Sun has used social media in order to tell the community that Tron has reached a new block height and that the company has exceeded 8.6 million blocks. The number was reached using TronScan, a tool that helps users to determine the block height on the Tron network.

Sun affirmed that Tron is keeping up with its efforts to create a more decentralized internet. According to him, Tron is an important road to reach major mainstream adoption, which will be important both for the token and for the world as well, as it needs companies which are focused on using the blockchain to solve problems.

Tron has just recently jumped from the block height 8 million to 8,614,366 now. In only 20 days, the token was able to mine over 600 thousand blocks. This means that the network is increasing its size very quickly and that Tron is finally seeing some well-deserved adoption around the world. At the moment, the network also has 2.6 million accounts and 1193 online nodes.

Not everybody was so impressed with Tron, though. Some crypto enthusiasts on social media complained that the internet is effectively a single network and that it simply cannot be decentralized because of that, so he said that Tron should strive for a more decentralized notion that the Web 4.0.

In any case, what is clear to us is that Tron is faring very well this year and that the company has plenty of chances of consolidating its presence in the future.

Source:bitcoinexchangeguide

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Tron Announces Historical Partnership with Liverpool Football Club, Community Becomes Intrigued

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On Tuesday, April 23, the founder of the Tron Foundation wrote on Twitter that Tron has received an official invitation from Liverpool Football Club (LFC) regarding an official partnership.

Justin Sun has again made the community feel intrigued.

Is Tron entering the global sports industry?

To his announcement on Twitter, Justin Sun has attached a promo video by LFC where the logos of the two future partners are shown together.

This could mean anything, but Justin Sun has refused to provide any details so far, promising to do that later on.

As per Sun, the invitation to make a partnership was initiated by the football club, not Tron. Still, he sounds enthusiastic and, judging by the comment thread, seems to make the Tron community feel the same.

Many are left bewildered by what is going to happen between these two giants of such different global industries.

Is Tron entering the global sports industry?

A prominent Tron supporter, Misha Lederman, has assumed that the multi hundred million audience of LFC could be a great addition to the current user base of BitTorrent and Tron.

Is Tron entering the global sports industry?

Tron community tries to find out the nuances

Justin Sun got snowed under with questions, the main theme of which was ‘is that really true?!’

Many expressed their doubts, though, or started to make proposals of partnering with Tron as well.

Crypto and the global football industry

Last time the global community of crypto enthusiasts had an excuse to get connected with football was the global championship that took place in Russia last year.

Back then, many hotels and hostels in Moscow, St. Petersburg and other major cities accepted Bitcoin and other cryptocurrencies for room booking and other services. Crypto was accepted in numerous pubs and even taxi drivers took it from foreign customers.

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Tron announce partnership with English football club Liverpool

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Tron founder Justin Sun has tweeted a somewhat cryptic partnership announcement with English Premier League Football Club, Liverpool.

The tweet from Sun features a video that includes the opening of an invitation with a video from Liverpool. In the video, Liverpool manager Jurgen Klopp can be heard speaking, stating “This means more, this means more because you are associating yourself with a philosophy, a philosophy that says more about you than being apart of any other football club in the world”

Sun states in the tweet “Thank you for the unique and innovative invitation, Liverpool! I am impressed and I’m looking forward to exploring this #TRON new partnership together!”

The partnership does not explain how both partie will be partnering up as of yet, but we can definitely expect more news from the Tron founder in the upcoming days.

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