Friday August 31st, Tron (TRX) got closer than the previous day, but the moment was already fading around noon. The crypto is now trading at $ 0.0247, which is lower at the start of this week, says Dmitriy Gurkovskiy, chief analyst of RoboForex.
Technically, the general long-term trend is still descending, and it will be so until prices fall outside the resistance of the main channel. In the meantime, in the short term, a corrective trend is forming on H3, with the goal of resistance to the downward channel. The price is now testing the short-term channel support while trying to go up to $ 0.0312, which should be confirmed by gold crosses formed with the MACD and the stochastic. At the same time, support for $ 0.0223 could also be broken down and, at this rate, the price could then start again testing the minimum of $ 0.0160.
On M30, c & # 39; is a micro trend with local support at $ 0.0238. The Stochastic is in the overbought territory and is forming a black cross, which could confirm the disruption of local support followed by the fall to $ 0.0223.
Among the foundations, the most significant innovation for TRX is the official launch of the Tron Virtual Machine. On 30 August, this launch proved to be one of the most anticipated events this summer for the TRX community. The Tron Foundation presented the TVM Beta about two months ago. During the test phase, the developers were able to correct the regular bugs, also modifying the project according to the feedback of the user and the tester.
The organization believes that TVM can solve the problem of decentralization in general. For now, Tron Virtual Machine is compatible with Ethereum and allows you to use a unique internal memory, saving on energy consumption, while taking advantage of a very convenient resource manager.
In July, we mentioned that, according to Google Trends, Tron has attracted more users this year. This crypt is driving the most requested altcoin evaluation, along with Ripple.
Any provision contained in this document is based on the particular opinion of the authors. This analysis should not be treated as a trading advice. RoboForex can not be held responsible for the results of trading resulting from the commercial recommendations and reviews contained in this document.
Close-up image of Shutterstock. TradingView Charts.
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