Connect with us

Tron

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

Published

on

  • 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

Advertisement
Click to comment

Tron

Tron join hands with LATOKEN to become an IEO payment token

Published

on

The Tron token might not have managed to make its way back in the top 10 cryptocurrency list of CoinMarketCap, but has managed to keep up, in terms of performance and development. The Tron foundation has been informing the community about everything happening in its ecosystem along with its latest partnership with LAToken.

According to the announcement, TRX would be accepted as a payment medium on the LAToken IEO launchpad and will extend to create fundraising opportunities for new projects. The exchange ranks among the top 20 exchanges list and already has tokens like Bitcoin [BTC], Ethereum [ETH], and USDT on its IEO payment currencies list.

Going by the agreement amid two parties, TRX would list three trading pairs, TRX/BTC, TRX/ETH, and TRX/USDT. Along with Tron, Tron’s BitTorrent trading pairs would also be listed namely, BTT/TRX, BTT/BTC, BTT/ETH, and BTT/USDT.

Justin Sun, the Chief Executive officer of Tron and BitTorrent informed the community on his Twitter:

“#TRON trading market is available on @latokens, #TRONICS can trade TRX/BTC, TRX/USDT, TRX/ETH now.”

The first IEO on the exchange to accept a contribution in TRX would be Zeux token sale. Valentin Preobrazhenskiy, CEO of LAToken said that he was glad about the partnership and this was in line with the company’s mission to connect investors with entrepreneurs.

“We are glad to partner with TRON and start supporting TRX as payment currency. That is perfectly in line with our mission to connect investors with entrepreneurs. We will make simpler to contribute and fundraise for TRON users.”

At press time, Tron was valued at $0.0324 with a market cap of $2.16 billion. The 24-hour trading volume of the coin was reported to be $720 million as it reported a growth of 1.38% over the past day. In the past seven days, the coin plunged by 1.91% and continued to tumble by 0.08% within an hour.

Source :ambcrypto

Continue Reading

Tron

Tron Community Calling For TRX Listing On Coinbase

Published

on

The Tron community and specifically the U.S based Tron investors have made a desperate call for the listing of TRX on Coinbase. According to an enthusiast, Stephen Baker, the listing is needed now more than ever before, most likely because of the recent Binance ban of American traders.

The prohibition has caused a huge panic in the cryptocurrency space with U.S traders looking for alternatives to Binance which will be unavailable to them come September. The ban only leaves a number of altcoins that will be available to the traders on the new U.S Binance exchange but the number keeps getting smaller.

Binance in its uniqueness has a carefully selected collection of altcoins which may be hard to find on any other exchange, thus the request for listing of TRX on Coinbase for traders to access. The panic may also have something to do with the current bullish Bitcoin market according to analysts.

This might be presenting Coinbase and other exchanges a good opportunity if they will list some of the altcoins that most traders want. John McAfee also recently launched his own cryptocurrency trading platform which might become a viable option with proper selection and listing of key altcoins.

Coinbase is known to be one of the top cryptocurrency exchanges and one that is driven by the demands of consumers. Most of the cryptocurrencies listed on its platform have been chosen based on user recommendations, according to the team. If they still hold onto that tradition then TRX may be on its way to getting listed on Coinbase soon.

Another user also in agreement with Stephen Baker wrote:

“I don’t want to go through 10 steps to purchase my Tron, @justinsuntron we/I need Coinbase to purchase my tokens. Com’on @brian_armstrong work it out for the crypto community.”

Another Twitter user has also called for the listing of ADA in the thread. This may just be the start of listing requests directed to not just Coinbase but several other exchanges will get in the next few months as the September deadline draws closer.

News Source

Continue Reading

Tron

What does Tron’s Justin Sun aim to achieve with Buffett over lunch?

Published

on

The cryptocurrency world celebrated seeing its proponent, Justin Sun, winning the charity lunch with investment mogul, Warren Buffett. The lunch is scheduled for July 25 in San Francisco. Justin Sun, the CEO of Tron foundation and BitTorrent in an interview told that he personally wanted to be friends with Buffett and give him real-time updates about the progress taking place in the crypto-space.

The 29-year-old CEO told CoinTelegraph that the aim of his meeting with Buffett does not involve persuading him to invest in crypto or even get involved, but to update him about the progress and achievements in the field. Buffett who had a strong opinion about Bitcoin will meet Sun and his friends from the crypto space, and one could imagine Sun’s effort towards changing Buffett’s opinion on crypto.

Source :ambcrypto

The cryptocurrency world celebrated seeing its proponent, Justin Sun, winning the charity lunch with investment mogul, Warren Buffett. The lunch is scheduled for July 25 in San Francisco. Justin Sun, the CEO of Tron foundation and BitTorrent in an interview told that he personally wanted to be friends with Buffett and give him real-time updates about the progress taking place in the crypto-space.

The 29-year-old CEO told CoinTelegraph that the aim of his meeting with Buffett does not involve persuading him to invest in crypto or even get involved, but to update him about the progress and achievements in the field. Buffett who had a strong opinion about Bitcoin will meet Sun and his friends from the crypto space, and one could imagine Sun’s effort towards changing Buffett’s opinion on crypto.

Previously, Ted Weschler won two auctions and was hired by Buffett’s firm Berkshire Hathaway Inc. and Sun was asked about any such plans to which he said:

“No, I don’t think so because I commit myself, dedicate myself, the whole life into crypto space.”

The CEO of Tron added that they are looking forward to “collaborate with Berkshire Hathaway in a lot of opportunities.” Apart from talking about crypto, Sun wants to talk about technology and be quippy with the 88-year-old investor.

Tron remains on the twelfth position on CoinMarketCap list and observed 2.27% growth over the past day. At press time, it was valued at $0.0333 with a market cap of $2.224 billion. The 24-hour trading volume of the coin was reported to be $694 million as it spiked by 3.54% over the past week but slipped by 0.03% within an hour.

Continue Reading
Advertisement
Advertisement