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TRON Technical Analysis: A Close Look At The Charts

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Tron
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In our last analysis of TRON dated April 24, we noted that TRON was trading in a slightly downward trending range channel which started forming on about January 31, 2018, as can be seen in Chart #1 below. TRON’s price action completely traversed the range channel six times before decisively breaking out to the upside on April 18, 2018, at a price level of $.046503. Since then TRON has been trading on a strong upward trajectory. On the daily chart, TRON has closed higher 9 of the last 14 days, with noticeably higher than average volume.  Also, every daily bar since the beginning of the upward price move, which commenced on April 13th  prior to the breakout from the channel, has traded above the 9-day moving average, with all four data points of the bar.

CHART #1: TRON Daily

The 60-minute chart below displays a more detailed view of the strong upward move that TRON is in the midst of. The upward price action has steadily followed the upward trend line (displayed in purple). The downward price swings have consistently approached and tested the trend line before turning back up and resuming its upward track. TRON is now on its fifth downswing to the upward trend line. Typically, upward price moves are not much more sustainable beyond the characteristics that TRON is displaying before retracing, and then continuing on to new highs unless of course, a reversal takes place.  With each additional upward price swing, the probability of TRON breaking below the trend line increases significantly.

CHART  #2: TRON 60 minute

TRON is currently trading slightly above the aforementioned trend line. If price breaks decisively below the trend line, a shorting opportunity will present itself. A short position with a stop-loss at the high of the prior price swing will be a prudent trade. If price turns upward and trades to a level near the middle of the range between the high of the prior price swing and the level at which price subsequently intersected the trend line, then a long position with a very tight stop-loss would be appropriate.

Once the trend line is broken and a retracement takes place, TRON will set up well for a long position. This is the first significant upward price move since bouncing off the local low coming from the prevailing Bear market. This also holds true for many of the other popular cryptocurrencies. If the next retracement is a mild one, and prices turn back upward and make new local highs, this could signal the end of the Bear market. And we all know what potentially follows.

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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 Matt Thorpe via Flickr

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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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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