Recently, TRX has been moving sideways without surprising traders or giving them any great expectations. However, sooner or later it must have changed.
What if the time for the break is now? Let’s read Tron (TRX) price predictions from TradingView users to find out how much TRX will costin the short- and mid-term perspective.
TRX might be heading $0.03
The user Duffalo has noticed that TRX just broke above the small downtrend line. It means that the confirmation for the breakout would be overcoming of the $0.025 area. You can see the grey area on the chart – this is where TRX should move in the nearest time.
According to Ksh57, we are currently in a broader triangle consolidation so looking for signs of a break either way. Also had two touches off 52-week moving average but failed to react to the downside in a significant manner.
We are also holding above the 25% line of blue pitchfork in the last two weeks.
So, what’s positive in this picture? TRON bottomed late 2018 (not in 2019) and most cryptos that are recovering/constructive did this. We are also still above the blue 0.618 retracements from this rally off the bottom which is also constructive.
Judging by the daily price chart, TRX is currently stuck between 100 and 200-day moving averages but if you dig deeper there was good support off the 200DMA in terms of volume.
On the daily, we can also see the bottom trend line forming triangle has had 4 touches now and failed to break. As for the bearish scenario we have not closed above the RED 0.618 fib that is measured from the high forming the top of the triangle and the low.
Again a break of the triangle would show clear direction as these levels are also guarded closely by the fibs.
If we take a 4H chart, we have just popped outside the near term downtrend. It shows clearly the reaction off lower trendline (and 200DMA). Even if we start pulling back towards the BLUE 0.5 fib we should watch the RSI and volume to find market direction.
All in all, there is potential this is a double top, but we would need to see some larger downside momentum to validate this.
For the bulls, it’s all about the bottom trendline and 200DMA. If this pitchfork holds, TRX will soar to the moon, but for now, it is 100% speculative until we at least test/surpass the median line.
Looking at the TRX/BTC chart, we can see that TRX on the Weekly is approaching the prior accumulation range, in which we might see a bounce. The green area will make a good area of support, with R1 acting as strong resistance in the future (highest volume node).
In the long term, TRX might be a nice investment idea. It seems to be accumulating power slowly by getting more mature and steadier. Let’s look for the next resistance zones overcome.
Poloniex, BigOne, and KuCoin roll additional support to USDT-TRON airdrop
A couple of top crypto exchanges recently announced that they are extending support to the USDT-TRON airdrop which has already begun from July 15, 2019.
According to the latest blog post by Ploniex published on July 12, the exchange offers flexibility by supporting all three networks for Tether (Omni, Eth, and Tron). The exchange claims that this effort is among its best initiatives taken to enhance exchange “as the best possible exchange for crypto traders and enthusiasts.”
Subsequently, the exchange will be converting “a specific number of Tether into TRC-20,” which is currently on the Omni network. As per the earlier announcement, Tron is airdropping approximately 30million worth of USDT-TRON as a daily interest to holders of these tokens. According to the Poloniex Exchange;
The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex.
BigONE And KuCoin Supports USDT-TRON Airdrop
Poloniex is currently supporting deposits as well as withdrawals of USDT on the Tron network and subsequently credit airdrop to eligible holders of USDT. Besides Poloniex, another exchange, BigONE has also announced to support TRC-20-USDT. The official announcement of BigONE reads that the exchange has opened deposit service of TRC20-USDT and it will also support the airdrop of TRC20-USDT.
From now on, users can deposit TRC20-USDT to BigONE. Once the airdrop starts, BigONE will take a snapshot of TRC20-USDT that BigONE users hold at 16:00:00 (UTC) every day, the announcement reads.
In addition to Poloniex and BigONE, KuCoin exchange also published a blog post, detailing its plan of supporting TRC20 based USDT. The exchange states that users from Monday, July 15 can apply for KuCoin “to convert their USDT to TRC 20 based USDT” and obtain the reward. The KuCoin announcement states that;
Due to the limited amount of TRC20 based USDT in circulation on KuCoin and in the market, we recommend that users apply as soon as possible. When the available TRC20 based USDT reaches an insufficient level, users will not be able to apply for a lock.
Tron CEO Justin Sun, Plans To Convince Warren Buffet To Soften His Stance On Digital Assets – He Reveals His Approach
You may recall that Justin Sun has been gathering friends to take to the famous upcoming lunch that he will be having with Warren Buffet.
Sun gained massive media exposure not too long ago after he won an important charity auction.
Not too long ago, Sun won an eBay charity auction to have lunch with renowned investor Berkshire Hathaway CEO Warren Buffett.
Justin Sun explains his upcoming approach with Warren Buffet
Sun is really hoping that he’d be able to convince Warren Buffet to soften his vision on cryptos and their potential.
During a new interview with Forbes, he talked about his goals for the upcoming meeting mentioned above.
Here’s what Sun had to say:
“I don’t think we can convince him that all crypto and blockchain is good, but I hope he walks away knowing more about the industry and its potential…” Sun began.
He also said, “I’m not sure how much I can persuade him in three hours or less. I will point him to the recent moves by other big companies to embrace crypto. J.P. Morgan, IBM, and now Facebook are all jumping into the market based on its promise of borderless commerce and decentralized finance.”
Justin Sun invites Donald Trump to lunch
Other than this, another move that Sun made and it’s really worth mentioning is that he also invited President Donald Trump to the lunch as a response to his tweets against crypto.
Here’s Sun’s invitation for Trump:
A lot of enthusiasts were rooting for the idea and Sun is not the only one trying to convince Trump to come to the lunch and be open to changing his stance on the digital assets and their future.
Trump did not offer an answer to Sun’s invitation as and far as we know, he might not even know who Justin Sun is.
TRC20-USDT Incentive plan starts reaching users today
Some good news for TRON are just out, even if they are their own news. The latest weekly report of the Justin Sun-led Project has advances in the stablecoin field as its most relevant novelty, although is that really whay their community wants the most right now?
According to the community update, starting today, 16th of July, up to the 15th of August, the TRC20-USDT Incentive Plan 2.0 will start to reach early users. The idea behind this is that TRON will partner with exchanges in order to pay interests back to users, in the TRC20-USDT token, which will be exchangeable for currently available USDT. Per the latest announcement, the annualized return rate for holders of TRC20-USDT could be as high as 100%.
Another highlight of this week’s TRON report are the mentions to fake claims by several fraudsters who assured having been invited to join the Sun – Buffett lunch. The company backing the token has assured that the only invitations they hae extended in so far have been for Litecoin, Binance and Huobi.
Apparently, some of the fraudsters have even been using their alleged presence in the event reuniting one of the best-known faces of crypto with an almost-mythical investor in order to try and get money from others.
Finally, this week’s number of the TRON report ends with mentions to the BitTorrent Speed public beta, which is closing in, and a brief comment to the DAPP market report of Q2, which again ranks TRON first in terms of DApp user growth in the second quarter of the year.