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Tron’s TRX at the top of current bullish trend, will it keep going up?

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Tron TRX bullish trend
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TRX is Tron’s foundation crypto coin. Founded by Justin Sun (who happens to be Alibaba‘s Jack Ma’s former student and protegé) and based in Beijing, and it’s one of the blockchain technologies that’s been gathering more attention over the last few months. And new developments are expected to unfold very soon.

It bears saying that while TRX is Tron’s coin, but the foundation and the currency are not the exact same entity. Tron is a blockchain firm that provides a number of different platforms that can deal in several digital and fiat currencies. They do own TRX’s largest reserve for sure, but as blockchain technology developers they offer many other services and advantages besides their own crypto-coin.

Tron has experienced a price correction that followed a recent rally. It’s stabilizing at around $0.07. It’s increased in value by 4.18% over the last 24 hours, and it’s currently the coin with the highest percentage increase as the current bullish trend keeps developing. But the question remains: can this coin start growing again and will it keep going up?

Expert investors are expecting anxiously for the market to rebound soon, especially after the cryptocurrency census now. This is showing in the way in which most digital coins are lining in breakout formations for intra-day trading. Tron’s Foundation’s TRX is one of these coins, and it looks like it’s loaded and ready to shoot. Many observers believe that TRX will experience a significant breakout soon.

The information you can get from RSI points in the same direction as the current market’s momentum goes for buying. The momentum has been maintained because Tron is about to launch their new Main Net infrastructure on this May 31st, and there are also rumors that it will be soon listed in one of the world’s most important cryptocurrency exchanges.

Things became even more interesting when Mr. Justin Sun announced a huge giveaway (the dream home one), which is a PR move he usually goes for when there’s a big announcement to be made. Traders are aware of more imminent events like this, and they’re supporting the coin as they expect them to become a reality.

The charts show signs of an impending trend up. And it’s the coin that is currently at the forefront of the bullish trend. These signs suggest it could reach a price as high as $0.08 at the 200-day moving average level. Reaching that level could see this coin even reach the $1 psychological barrier.

On top of all that, yesterday’s volumes did not go down at all, but they actually increased. The price slowly kept going up bringing the coin’s value to an accumulation point. The trend has given buyers and sellers all the clues they need to know in order to be confident about their transactions.

Do you think Tron’s TRX will be able to hold its upward trade until their new Main Net goes online?

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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 via Pexels.com

Blogs

What Changes May the Crypto Space Experience in 2019

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After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.

However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.

Bitcoin ETF approval

The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.

Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…

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Reasons Why 2019 May Be A Great Year For Crypto

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crypto
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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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