• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Tron (TRX) Breaks Free From 5-Month Range, Rally To 4 Cents Possible

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 2min read
technical analysis tron TRX
Advertisement
Listen to Article
  • TRX flips Bitcoin SV after surging 19.8 percent
  • After six months, TRX is above Q1 2019 trade range

Investors are not as excited as they would otherwise be if it was another project promising a “huge and amazing” announcement. It all has to do with Justin Sun’s history. After Liverpool FC and Baidu mess, they are doubtful if Sun will deliver on June 1st. If he does, TRX could surge above 4 cents.

Tron Price Analysis

Fundamentals

That the crypto space is competitive is true. With Ethereum leading the smart contracting arena while remaining decentralized is a feat. New entrants like Tron and EOS took a different route, prioritizing speed over decentralization. That may explain why critics are often trailing figure heads.

All the same, talks of centralization aren’t slowing down Justin Sun, the co-founder of Tron. After misleading investors once that Tron has signed a deal with Baidu and later with Liverpool FC, the community seemed to have learned.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

On May 26th, he said there is “something huge and amazing” that could drive BitTorrent and TRX prices. However, investors will have to wait until June 1st for all him to divulge details.

Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT

— Justin Sun (@justinsuntron) May 26, 2019

But, it seems like investors are reluctant, and it is understandable after failed promises that turned out to be marketing stunts.

Candlestick Arrangement

Tron TRX

All the same, TRX is back to the top-10, surging 19.8 percent in the last week. From Justin’s “promise,” TRX may rally.

Because price action aligns with our overall bullish stance, there is an opportunity for traders. Visible from the daily chart, prices are trading above two key previous resistance levels, now support, at 2.7 cents and 3.1 cents.

As a result, it also means TRX broke above Q1 2019 0.6 cents range at the back of increasing participation level. In line with previous TRX/USD trade plan, traders can buy the dips with a modest target of 4 cents in a bullish breakout pattern.

Technical Indicators

Since the path of least resistance is up and behind the upswing is a spike in trading volumes, May 26th bar anchors this trade plan. It has high participation of 17 million against 8 million.

Similarly, the confirming bar had high trading volumes of 22 million versus 9 million averages. Ahead of June 1st, it is likely that trading volumes will increase above 22 million, cementing buyers and ushering in another cycle nullifying bears of late 2018.

Chart courtesy of Trading View. Image Courtesy of Shutterstock
Tags: Justin SunTRONTRX
TweetShare26
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Chainlink, LINK, LINKUSD, LINKBTC, cryptocurrency

Chainlink (LINK) Eyes Another Record Peak as Bitcoin Gets Choppier

1 hour ago
Chainlink (LINK)

Charted: Chainlink (LINK) Holding Key Support, Bulls Aim Fresh Test of $25

5 hours ago
Ethereum

TA: Why Ethereum Close Above $1,300 Could Spark A Fresh Surge

7 hours ago
Bitcoin

TA: Bitcoin Bulls Protecting $30K, Why BTC Could Correct above $32K

9 hours ago
bitcoin dominance altcoin season

Here’s The Line Separating Bitcoin Dominance From Altcoin Season

11 hours ago
bitcoin dangerous triangle pattern

A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

16 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

IOST Selected Among 344 PoS Projects to Join Binance Staking

January 28, 2021

What Is PointPay and How to Earn 30% Yearly With PXP Tokens?

January 28, 2021

FINDORA Research Foundation Grants 2 Million to LZMicro

January 28, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.