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TRX Price Prediction is $0.03 with Ascending Triangle Rising on the Horizon. Has the Young Crypto Matured?

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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

TRX should overcome $0.025 area

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.

TRX should crash?

TRX is forming the triangle for massive consolidation

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.

TRX will see a bounce

TRX/BTC is forming a few interesting scenarios

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).

Final thoughts

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.

-News Source

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Tron

Tron (TRX) Still Struggling Despite Key Development Updates, Properly Bullish Above $0.03

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The Tron project has risen to be one of the most popular projects in the industry in recent years. Much of its success has come from vigorous development and the project’s active team led by Justin Sun.

Though the project has not slowed down in its effort in recent months, its representation in terms of TRX prices has been on a drag. In the last couple of weeks, the coin has been trading on a tight range and has hardly responded to recent project developments.

At the time of press, Tron is nudging at the $0.030 position after a bearish couple of days. In the last couple of weeks, Tron has been stuck in the $0.025 and $0.030 price range. Today the market is seeing some fresh green and Tron is one of the cryptocurrencies seeing significant gains of over 4%.

Recent Developments Around The Tron Project

Just a couple of days ago, the Tron project announced that their token would be available to Opera web browser users. The Opera web browser will now support TRX in its built-in crypto wallet. The platform already has more than 300 million users from around the world and supports Ethereum and ERC-20 compatible tokens and Bitcoin.

The Tron project continues to dominate in dApps. DApps are growing fast due to their speed and cheapness taking away a lot of developers from popular projects such as Ethereum and EOS.

Hint Of Mismanagement?

However, although Tron has had much to celebrate this year, the project has not had faults. In recent days there seems to have been trouble from within the project. The project’s CTO, Lucien Chen, has recently resigned from the project citing several problems with the project, this ranged from lack of “decentralization” to it being a gambling and funding project.

Following the resignation and allegation, the Tron project fired back saying that the CTO was fired early in the year for bribery and theft. However, the project failed to announce his departure at the time.

It still remains unclear who is telling the truth but whatever the case, this is attracting the wrong kind of attention for the project.

TRX Price Prediction

TRX

It is currently clear that the Tron project despite having issues with its management is on the right track when it comes to development and clearly has no issue when it comes to adoption. TRX prices will soon catch up with these developments and with key resistance positions dealt with such as $0.032 and $0.035, we can see TRX  soar to new highs soon.

-News Source

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Tron

TRON users, stay alert! Read more on the BTC Bonus

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Because the TRON (TRX) futures trading market has been launched, a giveaway involving BTC bonus has been announced a short while back.

A promotion period of three days has been given, between May 21st and May 24th, within which the users have to open 10/100/500/1,000 contracts in TRX futures trading market in tiered maintenance margin ratio mode. This will lead to a bonus amount of BTC (which may go up to 4 times).

Up to 1000 USDT can be won. 5 days following the completion of the promotion is when the prize will be awarded. It users are caught controlling multiple accounts, a ban will be placed on their IP

Know more here:

Source:iourbitcoinnews

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Tron

Tron (TRX) Price Positioning For Bullish Break Above $0.0300

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  • Tron price started a sharp downside correction from the $0.0331 high against the US Dollar.
  • TRX price found support near the $0.0245 level and it is currently moving higher towards $0.0300.
  • There is an ascending channel forming with support near the $0.0270 level on the 4-hours chart (data feed via Bitfinex).
  • The price remains well supported on the downside and it could soon climb above $0.0290 and $0.0300.

TRON price is slowly gaining bullish momentum against the US Dollar, but struggling vs bitcoin. TRX could start a strong upward move if there is an upside break above $0.0300.

Tron Price Analysis

This past week, there was a strong rally in TRON price above the $0.0250 and $0.0280 resistances against the US Dollar. The TRX/USD pair even broke the $0.0300 level and settled above the 55 simple moving average (4-hours). Finally, there was a push above the $0.0320 level and the price traded to a new monthly high at $0.0331. Later, there was a sharp downside correction below the $0.0320 and $0.0300 levels. The price even declined below the $0.0280 level, but it found support near the 55 simple moving average (4-hours).

A swing low was formed at $0.0247 and the price is currently moving higher. It climbed above the $0.0265 level and the 23.6% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low. However, the $0.0285 and $0.0290 levels are currently acting as hurdles. The 50% Fibonacci retracement level of the last decline from the $0.0331 high to $0.0247 low is also acting as a resistance for the bulls. A clear break above the $0.0290 level is likely to open the doors for more gains in the near term.

On the downside, there are many supports near the $0.0270 and $0.0265 levels. There is also an ascending channel forming with support near the $0.0270 level on the 4-hours chart. A downside break below the $0.0265 support level may open the doors for more losses in the near term. The next key supports are near $0.0250 and $0.0245.

Tron Price Analysis TRX Chart

The chart indicates that TRX price is following a decent bullish path above the $0.0265 support. Therefore, there are chances of more gains above the $0.0290 and $0.0300 levels. The next main resistance is near the $0.0330 level, above which the price could trade towards the $0.0360 level.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly gaining momentum in the bullish zone, with positive signs.

4 hours RSI – The RSI for TRX/USD is currently above the 50 level, and it could continue to rise towards the 65 level.

Key Support Levels – $0.0265 and $0.0270.

Key Resistance Levels – $0.0290, $0.0300 and $0.0312.

-News Source

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