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Tron [TRX] Technical analysis
In a sad cryptocurrency market scenario, TRXmarket shows a silver coating with a decline in transaction fees, which, however, failed to increase Tron's value. Announced Friday through Twitter posts, the commission fell to 0.1% at 07.00 (UTC). The positive news could not push up the value of the tenth most valuable digital asset in terms of market capitalization and instead the bears focused on the encrypted landscape. When the sellers began to pick up the market, the coins began to trade in red. Previously, when the tokens persistently underlie, Tron [TRX] saw a slight increase of almost 0.45% over the last seven days and fell by almost 39% over a period of one month.
Latest news! 📢📢📢
The transaction fee of #TRXMarket fell to 0.1% at 07.00 (UTC) on December 14th! 👏👏 And the transaction fee 0 will be realized by next Friday, go to the trade: @ https://t.co/tflRhfOusM tele: https://t.co/TjFjcXhsk2 #TRON $ TRX @justinsuntron @Tronfoundation
– TRXMarket (@TRX_Market) December 14, 2018
TRX / USD
The MACD suggests that the digital currency has sunk into the bearish zone, while the market crumbles under the increased pressure from sellers. The 100 EMA line, at the time of writing, shows that the virtual resource is stuck in a downward trend. Currently, the currency is trading far below the key support level, which can be traced to $ 0.0138.
At the time of printing, the RSI time stamp is measured at 35.5, which indicates that this currency will soon touch the oversold level on the market. According to data from CoinMarketCap, the total market capitalization of the digital asset stands at $ 866.73 million. The virtual currency suffered a decline of almost 2.28% compared to the US dollar, currently trading in $ 0.0131.
Tron [TRX]
TRX / BTC
At the moment, the cryptocurrency managed to crawl almost 0.94% against Bitcoin [BTC] with an estimated TRX around 0.00000394 BTC
Tron [TRX] Latest updates
- TRON [TRX] has recently announced that users will now be able to exchange faster and more secure encryption [TRX] is now available on SwftCoin. It is a cross-border platform that allows users to transfer cryptocurrency in a single click. SwftCoin integrates artificial intelligence (AI), big data and blockchain. The main objective is to improve the efficiency of the cryptographic market by demonstrating safe, economical and compact transfer services. This was a great news for the TRON community that was recently informed by Sun that TRON became part of Blockfolio Signal beta – the "leader" in the portfolio monitoring app for encryption and blockchain industry.
- TRON's founder and CEO, Justin Sun, informed the community that he presented a proposal to reduce the cost of 1 energy to 0.00001 TRX. The news of the proposal was shared by Sun on December 10 and December 13, Justin Sun confirmed that the proposal was accepted. The proposals are approved and disapproved by Tron Super Representatives, representing the network and the community. The proposal must obtain a minimum of 2/3 of the approval of the Super Representatives in order to be activated.
See also:
TRON (TRX) available on SwftCoin, one-stop cross-chain wallet app
TRON to reduce energy costs to reduce the cost of the smart contract, confirms Justin Sun
Image via Shutterstock
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