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Tron falling chock is almost done. TRX breakout is coming!

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Tron started its operations last year and ever since it began, it has achieved great feats in the crypto market. At the time of writing, TRX is trading at $0.021 after rising by 3% in the last 24 hours. TRX/USD is moving aggressively on its daily charts, and a steady bullish movement might come to the party soon.

In a technical point of view, TRX is trading at a major support level of $0.0230 and a resistance level of $0.1004. Tron (TRX) is in a falling wedge which has been so, right from the start of its correction. In the meantime, the stochastic is closing up, which shows that there may be an ascending correction coming soon and possibly, a breakout. The chance for correction can be measured by Fibonacci points, targeting main points at 0.0476, 0.0577, and 0.0650.

It is important to know that the TRX/USD daily charts show that a breakout is evident as the falling wedge is almost done. A possible situation is that falling wedges usually breakout on the 5th touch (E) – which is possibly next month.

That said, Tron’s EMA position is still on the bear side as its value has gone lower than the 21 EMA. Additionally, an ABC correction is set to occur according to the TRX daily charts in other direction of the Elliot 1-2-3-4-5 wave. This implies that there is a possibility of a bullish movement in the coming months.

Tron (TRX) is a decentralized platform that operated under Ethereum before it became independent. This decentralized platform is rank No.12 according to CoinMarketCap with a market capitalization of $1,386,288,958; it is now a rival to Ethereum.

In the past one year, Tron has achieved lots of feats and has a lot of hype around it. Analysis from GoogleTrends shows that Tron has attracted more users globally and it is among one of the most demanded altcoins. Even with the hype and attraction, it has not reached Ethereum’s market value and position.

We aren’t sure if it will overtake Ripple and Ethereum at their respective positions, but it is certain that there is a bullish movement coming up on Tron (TRX). Again, the TRX daily charts show that the TRX falling wedge is set to be complete and a bullish breakout is forthcoming. It is necessary to know that if there isn’t any breakout, then, it has to test a new resistant level before a breakout can occur.

Subsequently, crypto enthusiasts have been monitoring the meeting between Tron’s CEO, Justin Sun, and Twitter. According to leak sources, the meeting was to decide how scam bots can be removed – which is currently a big problem for Twitter these days. So allegedly, Tron Foundation and Twitter are in close collaboration to combat these scam bots to make the social media safe for its users. It is also important to know that if Tron collaborates with Twitter on this issue, it will be beneficial, not only for Tron but also its cryptocurrency TRX.

In the end, let’s not forget that more than 2.2 million users and businesses can now take Tron (TRX) as a mode of payment as the blockchain firm partnered with CoinPayments just recently. This undoubtedly is a massive step towards crypto adoption, which in the end, will shower a positive impact on the whole crypto market and not just Tron.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of SH Lam via Unsplash

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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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