The intense volatility seen within the cryptocurrency markets demands that traders and investors stay informed at all times about the latest technical and fundamental developments, which is why PrimeXBT offers daily updates.
News and Fundamental Analysis:
TRON founder Justin Sun is cooking up a secret project that will bring “multibillion benefits” to the TRX ecosystem. That’s according to a typically sensationalist tweet from Justin Sun where he also forecasts the influx of 100 million new users to the blockchain platform.
Justin Sun has also offered to pay 1 million TRX to a person who claims to be a ‘Tron troll’ and who alleges that Ethereum pays to its trolls openly every quarter of a year.
The number one video blogger on YouTube, PewDiePie, also promoted both Tron and BitTorrent during one of his live streams on DLive – the platform recently acquired by the Tron Foundation.
Technical Analysis:
As we can observe, TRXBTC is currently forming a bullish flag pattern and is approaching the key resistance level. The bears are currently attempting to sink the price below this level. If successful, the TRX/BTC pair could again dip to around 0.00000175.
If the price breaks through this resistance and closes above it on its daily chart, a continuation of the uptrend will be confirmed and we’ll have to search for new buying opportunities based on the same level with an upside target around the previous swing high level.
As always, be careful, and don't forget about capital & risk management.
Remember to stay tuned for future technical analysis, news, updates, and more from PrimeXBT.
News and Fundamental Analysis:
TRON founder Justin Sun is cooking up a secret project that will bring “multibillion benefits” to the TRX ecosystem. That’s according to a typically sensationalist tweet from Justin Sun where he also forecasts the influx of 100 million new users to the blockchain platform.
Justin Sun has also offered to pay 1 million TRX to a person who claims to be a ‘Tron troll’ and who alleges that Ethereum pays to its trolls openly every quarter of a year.
The number one video blogger on YouTube, PewDiePie, also promoted both Tron and BitTorrent during one of his live streams on DLive – the platform recently acquired by the Tron Foundation.
Technical Analysis:
As we can observe, TRXBTC is currently forming a bullish flag pattern and is approaching the key resistance level. The bears are currently attempting to sink the price below this level. If successful, the TRX/BTC pair could again dip to around 0.00000175.
If the price breaks through this resistance and closes above it on its daily chart, a continuation of the uptrend will be confirmed and we’ll have to search for new buying opportunities based on the same level with an upside target around the previous swing high level.
- Support Zone: 0.00000190
- Resistance Level: 0.00000204
- Long Target Level: 0.00000242
- Market Cap: $1 149 259 613 USD
- Volume (24h): $1 474 114 504 USD
- Circulating Supply: 66 682 072 191 TRX
As always, be careful, and don't forget about capital & risk management.
Remember to stay tuned for future technical analysis, news, updates, and more from PrimeXBT.