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Is Tron (TRX) ready for another breakout?

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Tron is one of the best performing cryptocurrencies in the crypto world, and this is because it has taken over many projects in the past to help its platform and community, but all of these have not helped or reflected on the price of the token. Now, many cryptocurrency fans believe that Tron (TRX) is ready for a breakout in the coming weeks. But how likely is speculation to become real?

At the time of writing, TRX is priced at $ 0.022 after rising 0.05% in the last 24 hours – therefore, no significant change yet. In the last months of this year, the value of Tron has decreased by over 60%, probably due to the overall performance of the crypto markets. But even after the launch of Tron MainNet, the price of TRX remains stagnant. This is something that has pushed many to the boring wall.

Next TRON breakout?

Technically, taking a look at its market rankings, Tron is now falling, but there are a number of changes in the charts that show a breakout could be coming soon.

The falling wedge also indicates peaks and falls that are limited by the trend lines, and we know that this type of scenario forms an upward trend at the top of the wedge. Furthermore, the On Balance Indicator (OBV) shows a downward trend and there is a high possibility that it will create a new trough.

At the current state of affairs, an upward correction of prices is evident, and we may witness a price break on TRX / USD trades in the coming weeks. In fact, it seems that the inversion is already under way, due to Bitcoin activities in the market.

It is necessary to know that Tron (TRX) is riding the wave of positive news around it. It seems that Tron is getting a better part of the attention after creating a better path, his Virtual Machine – a virtual machine much better than that of Etherum for Dapps developers to create and distribute their Dapps.

Also in a recent statement by Tron's CEO, Justin Sun, he asked Dapps developers not to install their Dapp on the Ethereum network. There is no doubt that Tron has increased his pace and made sure that he offers the best experience for the Dapps.

Tron's VM is attracting the attention of many developers today and increasing its price.

Furthermore, Tron is now listed on Bittrex and Binance, both of which are major cryptocurrency trades on the market today. Tron has also created another Dapps developer project called SeedGerminator, which will help accelerate Dapps and its creators to produce technologies on the Tron network.

In addition to the technical analysis, the announcement of the Dapp of Tron and its listing on Bittrex, among other things, could see the price of the TRX breakout in the coming weeks. Although, this prediction will depend exclusively on the market if it does not generally change as recently. And yes, even the accounts on the Tron network that exceed 400K are worthy of note.

Furthermore, we should not forget that other recent projects such as Project Atlas will also help increase TRX prices in the coming days. Recent developments on Tron's network appear to be promising, and we may be ready for a breakout at any time.

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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 in-depth research before investing in any cryptocurrency and read our full disclaimer.

Photo by Vlad Shapochnikov on Unsplash

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