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

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Tron TRX
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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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