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Technical indicators prove Tron (TRX) is on its way to a bullish upturn

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Recently, the cryptocurrency market has suffered one of the most significant dips in history. In fact, this year alone the market has experienced incredible bearish moves that, in most of the cases, have been caused by hacking attacks such as the ones of Bithumb and Coinrail, as well as because of the usual volatility that’s expected of the crypto sector itself. Likewise, all of the cryptos in the market has suffered adverse changes in their prices, and this is something that even for top cryptos have been very difficult to correct.

Tron (TRX) is among those coins that have faced difficult times with their prices, even to the point where a large part of the community has been feeling highly disoriented, especially when a price take off was the most common expectation for the coin. Let’s recall that many experts forecasted the TRX token to experience a skyrocket momentum right at the moment of the launch of its mainnet, and as this happened on May 31st, the hopes were actually starting to crumble.

Nevertheless, as it all seems now, the token has already started its price correction, a fact that is actually prognosticated to improve even more with the events to come, the Super Representative elections, and the coin burn that will take place after the TRX token declares its independence from Ethereum ERC-20. Let’s see how the coming days look like for the coin!

Technical indicators report

According to the technical indicator Simple Moving Average (SMA), Tron (TRX) is more likely to obtain at the future prices in the bullish tendency. The indicator that shows the average value of the price of specific product and services has shown a result on the 100 SMA going above the 200 SMA long-term, which means the token has great possibilities of skyrocketing rather than nosediving.

Similarly, the Fibonacci extension tool has revealed remarkable results for the token, showing TRX already surpassed the 38.2 percent extension and prognosticating the closing on the 50 percent extension at $0.04281. Furthermore, if everything results as expected for the coin with the coming events, then the market will possibly experience a selling pressure that could take the crypto to the 61.8 percent extension or the 78.6 percent at 0.05400.

For its part, the Relative Strength Index (RSI) has increased considerably, as well as the Stochastic, which proves it is actually the trend that the TRX token might follow in the coming days.

Current status of the crypto market

The cryptosphere appears to be regaining control over the prices after the long rough patch that has been shaking the industry during this year (and just recently). This, in fact, is an astonishing thing in lights of the recent hacking that the popular exchange, Bithumb, has suffered; not so long ago a very similar situation occurred with a South Korean exchange, and the results were catastrophic, to say the least.

However, finally, taking numbers from the last 24 hours, the market shows up strong and resilient (Tron TRX holds the record for the only coin among top 10 to be in green if we talk about last seven days). And this is something because of which we all are cheerful for, and the most important, we expect that lasts in the long run for Tron and rest of the crypto market. But, we don’t know what the market could bring ahead, signs and hopes are positive, though.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay.com

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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