Connect with us


Tron (TRX) Technical Analysis – Tron (TRX) Continues To Hold The Line



Tron (TRX)

Last week, we brought readers attention to the action in Tron (TRX) where we noted the following, “While overall market conditions have remained range-bound with no real leadership to speak of at the moment, it’s not surprising that we have yet to see any follow-through from TRX as it appears that the cryptocurrency universe is awaiting some form of catalyst to trigger the next directional move.”

We also went on to state, “despite the lack of volatility that both investors/traders have been treated to over the course of the past several days, TRX continues to display favorable technical characteristics trading above both its 20 and 50DMA’s”, which is no longer the case today as TRX has since broken below its triangle pattern mentioned last week and currently resides ‘pinched’ between its 20 (yellow line) and 50DMA’s (dark blue line) as we can observe from the daily chart below:

As we can witness above, readers of Global Coin Report should not have been taken ‘Off-Guard’ via the recent action as we noted last week that, “Although there appears to be very little activity to speak of within the action taking place in TRX at this time, such suggests that in the not too distant future, we may just be treated to an awakening that may catch many off-guard, whether that be a thrust top-side out of the coiling triangle pattern or perhaps, a move below”, which in turn resulted in the latter as opposed to the former.

Furthermore, we also went on to identify specific levels of interest that readers may want to be aware of, both top-side as well as potential support when we referenced, “moving forward, if at any time TRX can go top-side of the .0977 level and perhaps more importantly, can clear the .1024 figure, such move, should it materialize, would suggest greener pastures, while levels of potential short-term support can be found at the .076 and .062-.065 zone”, whereby the move down and below the triangle pattern sent TRX into and slightly beneath (.059) our noted .062-.065 zone, yet has since recovered smartly from such depths.

Nonetheless, although TRX has found the footing a bit slippery, as has the entire cryptocurrency universe these past several days of trade, Tron continues to hold the line at referenced potential support and has since recovered smartly back to the 7 handle as can be viewed in the chart above.

Therefore, while further work is required in order for Tron to right the ship completely from a technical perspective and is in no way out of the woods just yet, it’s encouraging that TRX continues to display decent relative strength and has been able to avoid a definitive break that holds beneath the .062- .065 zone mentioned from last week.

With that said, moving forward, both investors/traders may want to monitor the following levels for additional clues/evidence with regards to direction.

If, at any point in the days ahead, TRX is capable of clearing the .077 (former short-term support) level and perhaps more importantly, the .08 level (20DMA – yellow line) and can ‘stick’, such move, should it materialize, would certainly be a positive short-term development and suggest that perhaps the worst may be in the rear-view mirror, while the .062- .065 zone and most importantly the .058 figure (50DMA) providing potential support.

While the cryptocurrency tape remains slippery and elusive at this time, both investors/traders may want to continue to monitor the action in TRX closely in the days ahead for further signs of evidence with respect to direction utilizing the aforementioned levels above.

Happy Trading!!

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Chart courtesy of


XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



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

Xeno Holdings Limited ( ), 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 ( ), 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. One of the ways to have a successful trading…

Continue Reading


Should Crypto Projects Devote Resources to Community Growth and Marketing?



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…

Continue Reading


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



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

The XENO NFT Hub ( 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…

Continue Reading

Press Release