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Tron price analysis: TRX/USD vulnerabilities remain tilted to the downside

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  • Tron is trading down over 3% in the session on Thursday.
  • TRX/USD price action is moving within consolidation mode, at risk of another bear attack.

The Tron price is nursing losses of some 3% in the latter part of Thursday, as it continues to consolidate. Volatility has largely calmed down, following the chunky price rally late in October, as seen across the market.

TRX/USD is flirting with a critical daily support level, which is seen tracking at $0.01900. It has proven to be a bottom area since 31 October, failure to hold could open the door to fresh selling by the bears. 

Given the fast move to the upside between 24-29 October, a short period of time, it does make the price vulnerable to a potential correction. The next major area of support is eyed back down at $0.014000 – 0.011150 range. Price action is capped to the upside by resistance at $0.025000.

TRX/USD daily chart

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Tron makes it to Senbit crypto exchange as the listing spree continues for TRX

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The Senbit acceptance comes after Justin Sun had confirmed that Tron would begin trading on Poloniex, one of the most popular exchanges on the planet.

Tron and its founder Justin Sun have been in the news multiple times recently due to updates and developments in the cryptocurrency industry. Tron has also successfully managed to create tie-ups with other organizations in a bid to boost its mainstream appeal. In a recent Twitter post, the CEO and founder revealed that the TRX token was listed on Senbit, a cryptocurrency exchange.

Both the companies have stated that the deposit time is at 15:00 SGT on November 19, while the trading time was 14:00 on November 11. The listing was just one of many developments that have propelled Tron and its value upwards for the past couple of weeks. The 11th ranked cryptocurrency was trading for $0.017, with a total market cap of 1.16 billion. TRX held a 24-hour market volume of $988.5 million after a significant 8.66 percent fall in the past 24-hours.

The Senbit acceptance comes after Justin Sun had confirmed that Tron would begin trading on Poloniex, one of the most popular exchanges on the planet. Poloniex’s official blogpost noted:

“We are pleased to announce that TRON (TRX) is coming to Poloniex soon. Customers will be able to post limit orders for TRX/BTC, TRX/USDT and TRX/USDC pairs on 2019/11/12 at 15:00 UTC (“Post-only” mode). Full trading of TRX will be enabled shortly after this date. Be on the look-out for TRX deposits and withdrawals to be enabled in the coming days.”

Justin Sun has ensured that listing on exchanges remains a crucial priority for the cryptocurrency organization, whereas preparation has been ongoing for the creation of Web 4.0. This was further emphasized by the asset’s addition to John McAfee’s McAfeeDEX. The listing, however, occurred a week after the proposed date of November 8. The exchange has also drawn the ire of regulatory watchdogs such as SEC and IRS, the latter of which has been after McAfee for the past eight years.

The delayed launch was addressed by McAfee, who claimed that a developer committed the error. McAfee’s tweet read:

“TRON IS LIVE ON http://MCAFEEDEX.COM 🙂

Sorry for the week delay. We have disciplined the developer responsible. We are making him write: “I don’t ever want to waterboarded again” 200 times on the chalk board:).”

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Justin Sun Teases Tron Acquisition, Can He Deliver?

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Tron CEO Justin Sun sent tongues waging today as he teased the markets with news of a new acquisition. No details were forthcoming, but the suggestion to “stay tuned” has the crypto world on tenterhooks.

Tron CEO Cries Wolf

Many participants within the crypto markets see the Tron CEO as more of a publicist than a man of substance, and with his long history of hyping sensational news – which has more often than not turned out to be a non-events or even grandiose lies – the skeptical among us remain suspicious over today’s tweet.

The best example of this is perhaps the Warren Buffett charity lunch that never came to fruition. At the time, Sun claimed that ill health, from kidney stones, meant he had to re-schedule. Then, rumors of his detention by Chinese authorities on the grounds of a fraud investigation began to surface, but this was later refuted after footage of him live streaming from San Francisco made the rounds.

Almost five months on and we are still none the wiser as to whether the lunch will still occur. Sun himself has admitted to his status as a sensationalist character. Regarding the Buffett power lunch, he apologized on Chinese social media by saying:

“My immature, naive, and impulsive conducts with my big mouth have turned it into an out-of-control and failed over-marketing hype and led to a significant series of unexpected consequences.”

Even so, as someone with form, it’s difficult not to think of Sun as the boy who cried wolf. Or is it?

Justin Sun Delivers

For as much as people accuse Sun of being a shameless promoter, he is still a prominent figure in the crypto world, and his announcements as of late have been, for lack of a better phrase, out of the park.

To begin with, since the start of November Tron has been integrated into the Samsung Blockchain Keystore. Samsung S10 users can now access Tron tokens and Tron DApps via their smartphone. On achieving this important goal, Sun said:

“I believe that this partnership is big news for the crypto industry. Right now, TRX is the native currency embedded within Samsung phones after the S10 and S11. That’s why I believe it’s very significant considering Samsung’s large user base, in which billions of people around the globe use their products every day.”

Since November Tron tokens have been available on the S10

But that’s not all. Sun believes that other phone manufacturers will follow suit for fear of being left behind, therefore creating a domino effect of mass adoption through smartphone integration.

With Samsung starting to integrate blockchain infrastructure into their phones, this will force other phone manufacturers such as Apple, Huawei, Oppo, Vivo, and Xiaomi to also integrate with blockchain manufacturers, giving consumers huge benefits with the mass adoption of blockchain technology.”

In addition to that, Sun also admitted recently that he was one of the investors who acquired Poloniex from Circle. Although both entities will operate independently of each other, the benefits are already apparent, as Poloniex listed Tron last week.

Love him, or hate him, there’s never a dull moment with Justin Sun around, and news of a new acquisition in the Tron eco-space is likely to be big. Let’s hope Sun doesn’t disappoint.

Source:newsbtc


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Tron News Today – Top Headline for Tron TRX, November 19th

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A discussion with the CEO of TronWallet, Dio Ianakiara, has revealed TRON, TronWallet, TronWallet achievements, aims, the TRON community ideas, strategy, and plans for the future. Originating from Getty I/O about three years ago the main goal was always to solve the problem of the bad user experience with a better and more efficient mobile wallet that anyone around the world could use. At the time, TRON had announced a $1 million fund to support developers, as well as the TRON Accelerator coding competition. After carefully reviewing TRON’s code, Getty I/O loved the blockchain’s architecture and high performance culture.

TRON (TRX) Price Today – TRX / USD

NamePrice
Bitcoin$8,116.51-3.71%
TRON$0.017-6.85%

He further expressed that the realization that TRON was the fastest and also the most scalable blockchain at that time was a motivation. He said that this knowledge had triggered his decision to choose TRON and the decision to rebrand the crypto wallet as TronWallet and with evident results this had turned out to be a great decision. With all the growth TRON and TronWallet have experienced, details available on TRON news, TRON news today and TRX news, he confidently pointed out that TronWallet has been able to grow so fast due to a mix of hard work, excellent developers, and a strong focus on community feedback. This has assisted with improving the mobile wallet experience. The amazing and passionate global community, combined with the best quality blockchain product developers has been the little secrets behind the flight up. TronWallet has recorded downloads from 183 counties.

Dio Ianakiara further pointed out that TronWallet makes use of military-grade encryption to store and protect user data in a way that only the user can access the information. All transactions on TRON blockchain are done instantly, making all transfers unhackable and immutable. TronWallet has never been hacked. 

Considering the user community’s request to integrate Bitcoin (BTC) and other major cryptocurrencies. TronWallet will be launching TronWallet 3 soon and this upgraded version of TronWallet we will add support for Bitcoin and other top altcoins. To keep up information about the launch, follow up with TRON news and TRX news on smartereum.com. The Bitcoin support option will be a major milestone that will invite more users. The confidence in the product, and the wallet’s speed, security, and scalability will also be improved. TronWallet also enables users to use many DApps (decentralized applications). 

TRON (TRX) Price Today – TRX / USD

NamePrice
Bitcoin$8,116.51-3.71%
TRON$0.017-6.85%

In the future there may be a possible integration of the TronWallets in hardware solutions like Samsung’s Mobile Blockchain Keystore. With a partnership established between TRON and Samsung, TronWallet is working on a TronWallet product that will cater to the more than 1 billion mobile Samsung users. TronWallet is the crypto wallet of the world and 100% users oriented. 

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