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“Tron (TRX) Price Could Consolidate Before Fresh Increase”

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  • Tron price corrected lower sharply after setting a top near the $0.0320 level against the US Dollar.
  • TRX declined below the $0.0292 support and recently tested the key $0.0255 support area.
  • There is a major bearish trend line in place with resistance at $0.0285 on the 4-hours chart (data feed via Bitfinex).
  • The price remains well supported on dips near the $0.0255 and $0.0248 support levels.

TRON price declined recently and tested key supports against the US Dollar and bitcoin. TRX could trade in a range for a few sessions before it could recover above $0.0285 and $0.0292.

Tron Price Analysis

This past week, TRON price climbed nicely above the $0.0300 level against the US Dollar. The TRX/USD pair traded close to the $0.0320 level before sellers appeared. A swing high was formed at $0.0320 before the price started a sharp downside correction. The price declined below the $0.0300 and $0.0292 supports to move into a short term bearish zone. Later, there was a break below the $0.0285 support and the 55 simple moving average (4-hours).

It tested the $0.0255 support area, which acted as a strong buy zone. Recently, there was a short term recovery above the $0.0260 level. The price broke the 23.6% Fibonacci retracement level of the last decline from the $0.0320 high to $0.0255 low. However, tron bulls faced a strong resistance near the $0.0275 level. The price trimmed gains and it failed to test the 50% Fibonacci retracement level of the last decline from the $0.0320 high to $0.0255 low.

On the upside, there is a strong resistance formed near $0.0280 and the 55 simple moving average (4-hours). Besides, there is a key bearish trend line in place with resistance at $0.0285 on the 4-hours chart. Therefore, a close above the $0.0280 and $0.0285 resistance levels is must for a fresh increase. The next key resistance is at $0.0305. An intermediate resistance is $0.0295 and the 61.8% Fibonacci retracement level of the last decline from the $0.0320 high to $0.0255 low.

Tron Price Analysis TRX Chart

The chart indicates that TRX price is facing an uphill task and many resistances near $0.0280. It seems like the price may trade in a range for a few sessions above $0.0255 before the next move. If there is a downside break below $0.0255, the price may test the next support $0.0248 or $0.0242. On the upside, a break above $0.0285 could set the pace for more gains.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is currently flat in the bearish zone, with negative signs.

4 hours RSI – The RSI for TRX/USD is currently above the 40 level, with a bullish angle.

Key Support Levels – $0.0255 and $0.0248.

Key Resistance Levels – $0.0275, $0.0280 and $0.0285.

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Tron

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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