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TRON (TRX) Technical Analysis – TRON Leads The Way – A Lone Ranger

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Tron
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While the entire cryptocurrency landscape has been treated to a broad-based sell-off over the course of the past 36-48 hrs, whereby the wrath of Mother Market wrecked havoc throughout, driving prices lower with a sea-of-red and in the process, inflicting meaningful technical damage, there has been a lone standout, whom has withstood the onslaught in relatively fine shape from a technical perspective.

As readers of Global Coin Report are well aware, we’ve been shedding light on the exemplary display of relative strength in the action of TRON (TRX) over the course of the past several weeks despite the slippery slope of the overall cryptocurrency marketplace.

Not only has TRX been able to avoid the broad-based selling pressure throughout, yet, TRON has been able to maintain its position, albeit, testing short-term support and bouncing back like a champion, while holding its 50-day moving average (blue line) as we can witness from the daily Chart below:

As we can observe above, while numerous cryptocurrencies have and continue to display poor relative strength and many find themselves trading below their 20/50 and 200DMA’s, TRX presently finds itself in far better shape from a technical perspective than most (a majority by far) of its brethren.

We can see from the daily chart above that TRX has and continues to trade above its 50 and 200DMA’s weathering the recent stormy sea’s and although its tagged the 50DMA, TRON has been able to hold the line in fine fashion.

In addition, when we zoom into the 4HR time-frame Chart below, we can also observe that TRX has held short-term potential support located at the .063 level, although, it has some further work to do before recapturing its 20 (yellow line) and 200DMA’s (red line) on the 4HR.

Thus, while far too many names throughout the cryptocurrency sphere have a tremendous amount of work and repair in order before their technical picture improves, TRX continues to lead the way via its persistent relative strength and in essence, remains ‘The’ leader amongst all at this juncture.

Moving forward, both investors/traders may want to monitor the following levels for further clues/evidence with respect to direction in the action of TRON.

If, at any time in the days ahead, TRX is capable of going ‘top-side’ of the .076 level and perhaps more importantly, the .085 figure with volume, such development, should it occur, would more than likely trigger a move into higher ground with a short-term objective in the .10-.11 zone.

If on the other hand, Mother Market were to reassert its wicked ways and deliver further downside pressure, both investors/traders may want to utilize the .06-.063 zone as initial potential short-term support, while more meaningful support resides at the .05-.056 area.

Nonetheless, while numerous have found the footing treacherous these past 36-48 hours, TRX has acted as a beacon of light via its ability to thus far weather everything delivered its way, while continuing to display excellent relative strength in a turbulent environment.

Therefore, for those seeking leadership, one may want to put TRX front-and-center on their radars for further monitoring as we navigate a slippery and difficult tape.

Happy Trading!!

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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 Norma Desmond1 via Flickr

Charts courtesy of tradingview.com

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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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