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Tron [TRX/USD] Technical Analysis: Bears snatch the short-term rally from bulls

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Tron, like all the other cryptocurrencies, has settled down after a short-term rally and is now the eighth-largest cryptocurrency in the world. The price of Tron, at press time, was $0.0256, with a market cap of $1.7 billion.

The 24-hour trade volume for TRX was $195 million and most of the trade volume came from OEX exchange as it contributed a total of $49 million via trade pair TRX/ETH and held 24.73% of the total trade volume.

1-hour

The downtrend for the one-hour chart is seen ranging from $0.0310 to $0.0262, with no uptrend in sight. The support at $0.0254 has been tested multiple times and is still holding strong. The prices for TRX are bouncing from the aforementioned support and the resistance point at $0.0283.

The Parabolic SAR markers are seen spawning above the price candles, indicating a bearish pressure for TRX.

The MACD indicator shows MACD and the signal lines creeping closer to each other, signaling a cross over to the bottom – bearish crossover.

The Awesome Oscillator shows the same sign as the above indicators, which is bearish since the lines are formed below the zero-line, indicating a reduction in the momentum of the prices.

1-day

The one-day chart for TRX shows an uptrend that ranges from $0.0129 to $0.0253, while a downtrend that extends from $0.0498 to $0.0294. The support at $0.0119 is holding the prices above it. The resistance at $0.0267 was breached recently by the bulls, however, the bulls couldn’t hold it there and prices have now fallen below it again.

The MACD indicator shows a bearish crossover that is about to fall below the zero-line indicating a strong bullish pressure for TRX in the longer time frames as well.

The Stochastic indicator shows the same as the MACD i.e, a bearish cross over.

The Chaikin Money Flow indicates that money is flowing out of the market since the CMF line is collapsing below the zero-line.

Conclusion

The one-hour chart for TRX shows trend reversals as spotted by indicators SAR, MACD, and AO. The one-day chart shows the same as the one-hour – bearish pressure. The indicators in MACD, Stochastic and CMF, all indicate a bearish pressure for TRX.

Source ,cryptopotato

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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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