❇️The Tron price has started the quarter well. The TRX has jumped by more than 70% in the past WEEK , bringing its market cap to more than $6.17 billion. It is also the 20th-biggest cryptocurrency in the world. It was also among the best-performing digital assets in the first quarter as its price rallied by more than 280%.
What happened: Tron is one of the best-known blockchain projects in the world. It was made famous when its founder, Justin Sun, promised to pay millions of dollars to have lunch with Warren Buffett.
✅ The key to the success of TRON is that the transaction fees are much lower compared to the Ethereum blockchain, and this has led to the migration of a huge flood of people active in this field to the tron network.The recent rally is mostly because of the renewed interest of the network. As maybe you know , the number of active accounts has continued to increase. Similarly, the volume of transactions has continued to rise.
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✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for TRX/USDT, the price is trading at around $0.112 .
The weekly chart shows that the TRX price has been on a strong upward trend. It reached a year-to-date high of $0.1173 in appril. During the month, it managed to move above the important resistance levels at $0.088 in March.which has presented as a support right now.
If the price stays above the recent support level, it can continue to rise, otherwise; Probably retrace down to the middle of this big monthly candle and in the worst case scenario it can fall to EMA20 which is again an attractive price for the buyer which will definitely support.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you agree
What happened: Tron is one of the best-known blockchain projects in the world. It was made famous when its founder, Justin Sun, promised to pay millions of dollars to have lunch with Warren Buffett.
✅ The key to the success of TRON is that the transaction fees are much lower compared to the Ethereum blockchain, and this has led to the migration of a huge flood of people active in this field to the tron network.The recent rally is mostly because of the renewed interest of the network. As maybe you know , the number of active accounts has continued to increase. Similarly, the volume of transactions has continued to rise.
-------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As you can see in the weekly time frame chart for TRX/USDT, the price is trading at around $0.112 .
The weekly chart shows that the TRX price has been on a strong upward trend. It reached a year-to-date high of $0.1173 in appril. During the month, it managed to move above the important resistance levels at $0.088 in March.which has presented as a support right now.
If the price stays above the recent support level, it can continue to rise, otherwise; Probably retrace down to the middle of this big monthly candle and in the worst case scenario it can fall to EMA20 which is again an attractive price for the buyer which will definitely support.
(Anyway, my constant suggestion to my dear community is to buy step by step (or in a few steps) , With proper capital and risk management and by setting stop-loss , To reduce their risk, Because this crazy market also depends on the odds and there is no certainty.)
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades
👍plz hit that damn like button if you agree
