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.
The Tron’s Network Now Harbors 577 DApps
Tron network has just received another boost in its capacity with eight (8) new decentralized applications (DApps) coming onboard. Tron has undergone some golden days, but the recent circumstances are not quite promising with the virtual currency priced at $0.018199.
The decentralized blockchain platform receives another edge with 8 new decentralized applications making the total count of the applications 577 now. Tron aims to create a content-based digital entertainment system that works free of cost anywhere in the world. It relies upon a distributed framework for storage & enables quick and affordable sharing of the digitally acceptable content.
Started in September of 2017 under a non-profit firm based out of Singapore, the firm is now headed by Justin Sun with a dedicated development team for in-house operations that consists of good technology stalwarts.
Tron Foundation nurtures other plans to foster blockchain along with its implementation, to be carried out under a standard method that all industry players are employing.
The firm, Sun Network was reported to aid the leveraging of blockchain through enhanced scalability in supporting the under development DApps (decentralized apps) that can garner people in understanding Tron Foundation’s potential in the blockchain industry.
But Sun Network is not designated to be implemented under the primary net. Although, the execution of sub-chains can be done on the advanced grids that enable channeling profits for the main net while the process continues.
Justin Sun, CEO of the Tron Group, seems to be smiling at this feat right this very moment for his dream that has been manifested into a reality.
The launch of the apps has reported having boosted TRX’s volume by 30% when looked at the numbers from last week. The twitter page of the company has recently been updated with the news:
Tron (TRX) Founder Makes Boldest Giveaway Offer Yet, But Is It Real?
Controversial crypto industry leader and the founder of Tron, Justin Sun, has built a reputation based largely on offering the crypto community massive giveaways, with many of them backfiring and leading Sun to become embroiled in controversy.
Now, Sun is offering the world his most brazen giveaway offer yet, which appears to be largely based on Democratic presidential candidate Andrew Yang’s “Freedom Dividend” – a form of UBI that offers all Americans who are over 18 years old $1,000 in cash.
Tron Founder Justin Sun Offers to Giveaway $100k Per Month in 2020
During last night’s Democratic presidential debates, the topic of Yang’s popular “Freedom Dividend” once again was one of the candidates main talking points, and Yang is even offering to distribute $1,000 per month to 10 people for the next year using his campaign funding.
But there are concerns regarding the legality of this initiative, as it may violate campaign finance laws in the US. This has led multiple individuals, including Reddit founder Alexis Ohanian, to offer to fulfill this pledge themselves, assuming Yang is not able to.
Today, Justin Sun became the latest individual to extend an offer to carry out Yang’s plan, but he upped the ante, offering to give 100 people $1,000 per month in 2020, further adding that he would pick one recipient to attend lunch with him and Warren Buffet.
“Yang’s initiative to UBI $1k to 10 ppl per mth for 1 yr, I’ll pledge UBI $1k to 100 ppl per mth in 2020! I’ll pick 1 to attend lunch w/ me & @WarrenBuffett 2020! I’ll let Yang assist me in picking the lucky 100! Join us!” Sun boldly stated.
There have been a multitude of examples of Sun offering grandiose prizes that he fails to follow through with, but this time he is even offering to let Yang pick some of the recipients, which may bring some validity to his offer.
Yang’s campaign has garnered widespread support from crypto-enthusiasts, which is partially due to his openness to cryptocurrency and blockchain technology, which he sees as another progressive technology that the government should embrace.
Recently, Yang even noted that he believes a blockchain-based voting system could be a solution to eliminate the fraud that plagues the US voting system.
Although it is unclear as to whether or not Sun will follow through with his offer, a partnership with Yang’s campaign could garner significant publicity for Tron.
News and Analysis: TRON (TRX) controlled by bears despite positive BitTorrent news
- The platform announced the release of a new Mac OS version.
- TRX/USD is losing ground rapidly, moving towards the lowest level of the previous week.
BitTorrent has launched a new version of the platform for Mac OS users.
“Today, we are announcing the launch of @utorrent Web for Mac users! The product is compatible with Safari and Chrome browsers and delivers to both new and experienced users a simplified experience on macOS Catalina and previous versions,” the company wrote in Twitter.
The old µTorrent Classic for Mc will be automatically updated to the new version to guarantee the platform’s seamless work with Catalina. However, those users who prefer the old version and do not plan to update their macOS to Catalina, will be able to download the old version from utorrent.com after the automatic update occurs.
“With µTorrent Web for Mac, we extended the feature set of our popular Windows Web torrent client to macOS. Now Mac users can download any file type to store locally, stream media within a browser-based player while files download, set download/upload speed limits to free up network resources for other internet tasks, and much more,” Justin Knoll, VP of Product at BitTorrent commented.
TRON’s technical picture
Meanwhile, TRX/USD has been sliding down recently. At the time of writing, the coin is changing hands at $0.0145, down 5.5% in recent 24 hours. As the fundamental reasons of the sell-off are unknown, the downside momentum may be caused by speculative and technical factors.
Looking technically, TRX/USD is supported by $0.0140. Once it is out of the way, the bearish momentum is likely to gain traction with the next focus on $0.0139, which is the lowest level of the previous week. On the upside, we will need to see a sustainable move above psychological $0.0150 and $0.0152 (SMA50 (Simple Moving Average) on one-hour chart) to mitigate the initial pressure.