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Tron (TRX) is positioning for a bullish run (prove technical indicators)

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The recurring news all this year has been that the cryptocurrency market is under the bear’s hug. Even in those short periods in which Bitcoin has done well, most other coins (which usually follow Bitcoin’s trend) remain losing value and trading in the red. And that’s what’s happened with Tron’s Tronix (TRX) as well.

It hasn’t had any dramatic falls, but it’s been losing value since last December slowly, still steadily although, Tron has been reporting great news almost every single week. Paradoxically, those bullish announcements have only made fluctuations in price more frequent instead of causing a full take-off.

But a closer look into Tron’s technical market analysis indicators hints the other way. A bullish run could arrive for Tron soon and change the game. Buying pressure seems to be building up as attested by the higher lows in price and RSI.

There is also the current MACD behavior whose signal is going up and converging, a sign that experts consider as proof that selling pressure is lessening. The token’s price is at 0.020 USD as I write this article which is only a little lower than it’s been for the most part in the last few days.

Hourly charts show the same signs as longer-termed ones with higher highs and lows. Also, today’s rise in Bitcoin dragged up Tron with it a little.

So how good is this news, really? That’s good because some bullish signs are starting to show up in the market after the bears had dominated it for such a very long time.

But these are just signs, not guarantees. The outlook for Tron is changing from not very good to neutral. It’s not what Tron fans would like to see, but it could be the first necessary step in the right direction. So neutral in a market that is still going down, for the most part, is indeed good news.

These are the key ideas to keep in mind currently when thinking about Tronix (TRX):

  • The outlook is moving to neutral. It’s a good thing, but not something to be overly optimistic about in the short term.
  • Many altcoins are showing technical indicators consistent with an upcoming bullish run. At the same time, the market keeps steadily going down so there are still opposite signs that should prompt investors and traders to use caution.
  • Both daily and hourly charts show higher highs and lows in RSI and price forming. These are the technical signs that point to a new bullish run.
  • MACD is converging, and its signal line is crossing over upwards in hourly charts.
  • The relevant question is: should these new bullish signs prompt investors and traders to start going for Tronix right away? At this point in time, that’s anybody’s guess, and every single trader will need to make up its very own mind after doing proper research.

On the other hand, this is the kind of market conditions that afford amazing opportunities for rational players as this is when you can buy almost any asset you want very cheaply.

So things could stay hard for quite some time yet, but a new bullish run for Tron (TRX), and some other top altcoins, too, will start at some point soon, and then those who bought now would be quite satisfied.

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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 Shane Rounce on Unsplash

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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