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- BitTorrent, which was acquired by Tron, is creating its own just cryptocurrency.
- The TRX / USD bulls are back in control, making solid progress towards a further rise.
Life is back on the market, the bulls have spilled on Tron, revising TRX / USD back into the green. At the time of writing, trading rose more than 2% in the first part of Friday's session. In particular, it outperforms many of its peers, as they trade in principle or suffer smaller losses.
TRX / USD daily table. The price remains within the boundaries of the pennant structure, but there may be a near breakout.
Meanwhile, as detailed in the previous Article by Tron, c & # 39; is a bit of considerable space for a fair advantage, given the technique developed. The price is heading further in the right direction for that potentially explosive breakout. In terms of the fundamental news surrounding Tron, this does not seem to stop flowing.
BitTorrent Creation of Cryptocurrency on Tron Blockchain
BitTorrent, the giant peer-to-peer file sharing platform, is creating its own cryptocurrency. The new BitTorrent Token (BTT) will be running on the Tron network, which as a reminder acquired BitTorrent in June 2018.
BitTorrent Token claims to have a huge 100 million users on its platform, which is very encouraging about the possible front of the cryptocurrency. The token will be used by users to pay for faster file download speeds.
Tron's founder, Justin Sun, has confirmed exciting news via an update on Twitter. He said: "Excited to unveil our new BitTorrent BTT token and its crowdfunding on #BinanceLaunchpad !! The BitTorrent token is the first of many steps towards mass adoption of a truly decentralized Internet."
Elsewhere, in terms of BTT token, these will be issued by the BitTorrent Foundation and will be native to the TRC-10 compatibility. Therefore, the token is as said supported by the Tron blockchain; this is not too surprising given the existing business relationships of Tron and BitTorrent.
Technical review – TRX / USD
4-hour TRX / USD chart. The price action fires for a pennant breakout.
The bulls were well supported, as can be seen through the 4-hour chart display, from a short-term uptrend trendline. Above all, this is seen inside the formation of the bullish pennant model, which is subject to being broken by the bulls.
In addition, short-term support can be observed at $ 0.02055, where the trendline is monitoring below. If this remains intact and the bulls come out capitalized by the comfort they have, then they observe the next upward move.
Finally, the bullish resistance is seen at the top of the pennant is $ 0.021200. The price will have to see enough momentum on the upside, to take this above and beyond. A daily close above the technical structure could be sufficient confirmation to see a decent buying pressure.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
