Connect with us

Tron

Tron (TRX) Price Analysis: Recovery Possible If It Clears $0.09

Published

on

  • Tron price started a fresh decline below the $0.1000 zone against the US Dollar.
  • TRX price is now trading below $0.1000 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $0.0900 on the 4-hours chart (data feed via Bitfinex).
  • The pair could start a steady increase if there is a clear break above the $0.0900 resistance.

TRON price extended its decline below $0.1000 against the US Dollar, similar to bitcoin. TRX price could start a recovery wave if it clears $0.0900.

Tron Price Analysis

After forming a top near the $0.1000 level, tron price started a fresh decline against the US Dollar. TRX price broke the $0.0900 support zone to move into a bearish zone.

The price even broke the $0.0850 support and settled below the 55 simple moving average (4-hours). The price traded as low as $0.0829 and it is now consolidating losses. An initial resistance is near the $0.0870 level. It is near the 23.6% Fib retracement level of the recent decline from the $0.1005 swing high to $0.0829 low.

The first major resistance is near the $0.0900 level. There is also a major bearish trend line forming with resistance near $0.0900 on the 4-hours chart.

Advertisement

The next major stop for the bulls could be $0.0920 in the near term. It is near the 50% Fib retracement level of the recent decline from the $0.1005 swing high to $0.0829 low.

A close above $0.0900 and $0.0920 is must for a fresh increase. In the stated case, the price could rise towards the $0.1000 barrier in the near term. On the downside, an initial support is near the $0.0835 level. The first major support is now forming near $0.0830.

Any more losses might call for a sharp decline towards the $0.0750 level. The next major support below $0.0750 could be near the $0.0700 zone.

Advertisement

Tron (TRX) Price

The chart indicates that TRX price is now trading below $0.1000 and the 55 simple moving average (4-hours). Overall, the price could start a steady increase if there is a clear break above the $0.0900 resistance.

Technical Indicators

4 hours MACD – The MACD for TRX/USD is slowly losing momentum in the bearish zone.

Advertisement

4 hours RSI – The RSI for TRX/USD is still below the 50 level.

Key Support Levels – $0.0850 and $0.0825.

Key Resistance Levels – $0.0900, $0.0920 and $0.1000.

Advertisement

Tron

Moon Stake is now the Super Partner of TRON (TRX)

Published

on

The total accounts on TRON has exceeded 56 million.  According to TRONSCAN, TRON total accounts have reached 56,849,293.  TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.

Community response:  Less accounts but a higher price of TRON is what we need.  The price of TRX dropped below 0.1$.  Wish they burn some TRX or convey some benefits to users.

Other news:  Moon Stake is the Super Partner of TRON.  Users will be able to stake TRX to earn rewards on Moonstake Web and mobile wallets.  The integration is made possible through strategic partnership with the TRON Foundation.

Advertisement

Moonstake was established to develop a staking pool protocol to satisfy increasing demands of investors and businesses in regional and global blockchain markets. They aim to be the largest staking pool network in Asia by providing an active environment for crypto asset holders.  They are offering staking pool and node solution and enterprise wallet solution.

They offer Staking Pool as a Service.  Moonstake with their in-depth experience in developing and managing staking pool nodes in different project protocols, are currently having multi-millions worth of digital asset staked with them.  They are confident of being able to provide Staking as a Service through their proprietary SDK and API connection. The SDK approach permits institutions to plug easily and securely to their platform and stake only when required, while keeping it offline when digital assets are not moved.

They offer Node as a Service development for institutions who want to create their own project staking pools. Through their expert development team, institutions will be able to focus on their business strategy and growth, while leaving the technical development and maintenance of the staking pool nodes to Moon Stake.  Users will enjoy transparency and stability of yield returns on the POS coins while the specialists cover all the security and maintenance required.

Advertisement

Institutions choose Moon Stake as their staking solution provider because clients are always in control of their funds.  They are able to participate in the numerous projects staking pool nodes easily in a secure manner.

The staking pool from Moon Stake facilitates optimal yield options.  They also have working relationships with projects and communities, which support consistency and real-time updates.

With a clear understanding of the requirements of leading institutional fund managers and financial controllers which choose Mook Stake, they provide full detailed reporting with clear breakdowns, including multi-assets financial details and staking transactions. They also offer enterprise wallet solution and node as a service. Seamless onboarding, full control, flexible administration and permission levels, robust functions and features have all made Moon Stakes interesting for institutions.

Advertisement

News Source

Continue Reading

Tron

Tron price analysis: TRX rallies above $0.104 after piercing through resistance

Published

on

  • The bullish trend has lifted price to $0.104.
  • Bulls have been maintaining the control.
  • Support is at $0.082 as per Tron price analysis.

The Tron price analysis shows the bullish momentum has been intensifying over the past few days, and the uptrend has been quite permanent. The TRX/USD price has been able to cross the resistance present at $0.103 as well because of the upsurge. A crossover between SMA 20 and SMA 50 has resulted in a massive-scale improvement in price. The price is currently at $0.104 and is expected to grow even further.

TRX/USD 1-day price chart: Bullish momentum succeeds in elevating price to $0.104 level

The one-day Tron price analysis is confirming an uptrend, as the price has been rising consistently since the past week. The progression has been quite noteworthy as the price has been able to break past the resistance level as well. The price has taken a momentary stop at $0.104 and is expected that it will jump to further heights soon. The moving average (MA) value is at a lower level and is standing at $0.096.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 1

The volatility has increased slightly which indicates that the price might experience a drop ahead. The upper and lower values of the Bollinger bands Indicator have changed as such; the upper value is now at $0.103 while the lower one is at $0.082. The Relative Strength Index (RSI) indicator is showing its score at 60.

Tron price analysis: Bullish trend accelerates price movement above $0.104

The four hours Tron price analysis is predicting an uptrend for the cryptocurrency as the price has been progressing rapidly. TRON’s price is now settled at $0.104 and there is a high chance that it will move forward in the approaching hours. The improvement in coin value has been surprising and it seems that the buyers are inclined towards keeping the price high. Moreover, if we discuss the moving average value, then it is currently standing at $0.099.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 2
TRX/USD 4-hours price chart. Source: TradingView

As the volatility has increased substantially, the Bollinger bands are now keeping their average at $0.097. Whereas, the upper and lower Bollinger band values have moved to the following levels; the upper value to $0.102 and the lower one to $0.091. The RSI score has crossed the over-bought mark to reach 74.5 as well.

Tron price analysis: TRX rallies above $0.104 after piercing through resistance 3
TRX/USD technical indicators chart. Source: TradingView

The overall progress of TRON/USD price has been appreciable as can be confirmed from the technical indicators chart. There is a bullish indication for the day with 16 indicators present on the buying position, 10 indicators on the neutral position, and zero indicators on the selling one.

The moving averages indicator is supporting the buyers as well with a strong bullish signal. There are 14 indicators standing on the buying point, one indicator on the neutral point with none present on the selling point. The Oscillators are showing signs of bullish trend as well while keeping nine indicators on the neutral position, two on the buying position, and zero on the selling one.

Advertisement

Tron price analysis conclusion

The above one day and four hours Tron price analysis is predicting a rise in price as a constant uptrend has been following for a week. The price has pervaded through the resistance levels as well and has joined the $0.104 position. Further increase in price is possible if the support at $0.082 remains steady at its position.

News Source

Advertisement
Continue Reading

Tron

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance

Published

on

  • Tron price goes well clear of 20 and 50-day moving averages
  • Price rose again after a minor setback yesterday and continues to test $0.105 resistance
  • Bullish trend set to continue over the short-term

Tron price analysis confirms another positive day for the token, as price came back from a minor decline yesterday to go back up to $0.095 on the intra-day trade. TRX stays well clear of resistance point at $0.105, but continues to consolidate momentum to find a way past the illusive $0.1 mark. Trading volume also went up around 1 percent for the token, as it creates buyer interest after making the BTTC announcement in September. The coin is set to continue consolidation of buyer interest over the next few days, and attempt to go past the $0.1 mark.

The larger cryptocurrency market showed trends similar to Tron, exhibiting minor increments on the day trade. Bitcoin rose up to $49,000 after a 2.5 percent increment, whereas Ethereum sits just below $3,500 with a 1 percent rise. Among Altcoins, Cardano and Dogecoin made minor jumps to sit at $2.29 and $0.219, respectively, while Ripple rose almost 4 percent to consolidate above $1.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 1

TRX/USD 24-hour chart: Bullish Hammer pattern forms as price continues to grow

On the 24-hour chart for Tron price analysis, a Bullish Hammer pattern can be seen forming after yesterday’s price action turned into the reds, only for buyers to come in late into the market and re-initiate the positive run. Price went as low as $0.092, to be reversed up to $0.096 today, recording a weekly high for TRX. Price can also be seen moving clear of the 20 and 50-day simple moving averages (SMAs), showing real promise in the current run. The Relative Strength Index (RSI) shows a strong value of 52 as well, suggesting there is adequate buying market for the token in current trend, with room for more.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 2
Tron price analysis: 24-hour chart. Source: Trading View

TRX/USD 4-hour chart: Positive trend reflects with a healthy RSI

The 4-hour chart for TRX/USD pair also shows healthy signs for the token. Price has cleared the 20-day exponential moving average (EMA) and is looking ahead to the $0.1 mark. The RSI value of 62 presents a healthy valuation for TRX, suggesting there is just about the right buying interest. Over the next 4 hours, price is expected to resist any major change, but a change in trend may take place if the RSI continues to rise and sellers take advantage.

Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance 3
Tron price analysis: 4-hour chart. Source: Trading View

Tron price analysis: Conclusion

Tron price continues to rise steadily, coming back up after a slight decline yesterday. The resistance point at $0.105 seems a farfetched goal for now, but with gaining momentum and consolidation above the 50-day EMA at $0.096, the token is set to continue the current trend a bit longer. Buyers will look to consolidate price at this point before initiating the next assault, whereas any movement below $0.090 could invalidate the bullish thesis.

News Source

Advertisement
Continue Reading