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TRON (TRX) in the oversold zone: What’s its expected long-term price growth?

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Tron TRX

TRON is a digital asset that is created to revolutionize the world. It aims to create a decentralized world, thus, adding a new trend to the world’s global technologies.

TRON’s technology helps content creators to create and publish their contents without the use of intermediaries such as YouTube, Facebook, etc. However, the success of content will solely depend on the audience it has and the number of people that view it.

It is important to know that this year, Tron launched its MainNet protocol – which made TRX independent from Ethereum’s network, capable of performing more transactions than Ethereum’s network.

Also, TRON (TRX) is in the course of upgrading its MainNet and launching its very own Virtual Machine (on 30th this month). An upgrade of Tron’s MainNet protocol will see that it reaches higher speed (4x) than that of Ethereum’s network.

TRX/USD Market Indicator Signals

TRX has been on the bear side for two weeks, which further resulted in a dip in its price from $0.0246 in the supply zone.

TRX price dipped below 2 cents last week (22nd August). On the 25th of August, a bullish movement was seen as it attained a supply area of $0.0226.

At the time of writing, TRX is priced at $0.02512, and it’s on the green today same as other major cryptos in the market. The price of Tron (TRX) is almost at the zone of strong oversold. But if there is a general bear run in the market in the coming weeks or days, it may dip further below its current price and reach a new resistance level.

In the TRX market charts, you will see a buy zone SL area and 2 Targets on the symmetric triangle as its entry signal is breaking the neckline and 200 MA with a confirming volume. The targets are corresponding to the potential resistance at 337, 345, and 355 – although it may be short-termed.

With TRX’s current breakout with confirming volume – currently sitting at the physiological resistance of 330, it seems TRX is consolidating a bit before the next action.

Also, the stochastic oscillator is pointing upwards at 65%, and we may see a bullish movement in the price of TRX very soon. The RSI is also pointing upwards and displaying that there is still a buying pressure left, which will ensure that the upcoming bullish movement is under check until TRX attains the next potential resistance levels.

The price of TRX looks corrected, and bullish sentiment is likely. At the moment, the price of TRX is oscillating between $0.0262 higher support level, and $0.0203 lower support level.

TRON’s Long-term Price Predictions

Tron has done reasonably well even after the Bithumb hack news that affected the performance of many coins. With the current growth trend of TRON (TRX), it is likely it reaches $1-$2 (at least) within three to five years, and this since lots of global FinTech companies and developers are going for it.

The number of global usages is likely to increase in the next five years, and as more people and companies use TRON technology, TRX price will appreciate. As always, no guarantees in crypto-world and TRON as a company needs to keep working as hard as they currently are to keep the trends going in their favor.

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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.

Photo by Ibrahim Rifath on Unsplash

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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