Bitcoin rose over $15000, which is positive news for the crypto currency market
The TRX has been in a downtrend for several days and so far there is no signal for a trend reversal.
There is still no clear winner, but Biden’s camp hopes that they will pass the 270 threshold today
Most of the major crypto-currencies have advanced in the course of the further course of the US presidential elections, whose winner has not yet been officially announced. Joe Biden has a good chance of becoming the 46th president, and the camp around Biden hopes that they will pass the 270 threshold today.
Basic analysis: The project is still subject to a certain degree of uncertainty
The crypto-currency market is progressing this Thursday, but the TRON (TRX) price is still unable to breach the $0.025 mark as sellers retain control of the price action. The U.S. presidential election remains tense, and according to the latest news, Joe Biden has a good chance of becoming the 46th president.
Bitcoin rose above $15000 today, and some analysts believe BTC could trade even higher in the coming days. This is good news for the crypto-currency market, and this month could be very significant for the future price of this crypto-currency.
TRON is a block chain-based entertainment content exchange platform that has its own crypto-currency called Tronix (TRX). Investors in TRON should keep in mind that this is still a very risky crypto currency, but now might be a good time to trade TRON (TRX).
The price of TRON (TRX) has dropped from $0.036 to less than $0.0235 in less than two months and the current price is around $0.024. The main reason for this is a low transaction volume and there is still some uncertainty regarding the project.
Since then, the TRX has not been able to recover above the $0.030 resistance level and many investors believe that there are many other crypto currencies with greater potential and less risk. The TRON platform enables users to create content, Web sites and applications without relying on centralized services.
This platform has over 300,000 accounts. That’s much less than other crypto-currency networks, but the growth is quite impressive. It is estimated that TRON could change the global entertainment industry, and it is important to note that many technical specialists already support the TRON network.
Technical analysis: TRON (TRX) remains in a bear market
Data source: tradingview.com
If we take a look at the above diagram (period of one year), we can see that the price of this crypto currency rose from $0.007 to $0.049 and then began to fall. The current resistance levels are $0.028, $0.030 and $0.035, $0.023 and $0.020 represent the strong support levels.
If the price jumps above $0.028, it would be a signal to buy TRON (TRX) and we have the open path to $0.030. A rise above $0.030 supports the continuation of the uptrend and the next price target could be $0.035.
If the price falls below $0.023 on the other side, it would be a “SELL” signal and we have the open path to $0.020.
The crypto-currency market is rising amid great uncertainty about the outcome of the U.S. presidential election in 2020. Joe Biden has a good chance of becoming the 46th president, and the camp around Biden hopes to cross the 270 threshold today. The price of TRON (TRX) has been on a downward trend in the last few days, and so far there is no signal for a trend reversal. The main reason for this is a low transaction volume and there is still a certain amount of uncertainty regarding the project.