Last week, the price movement of TRX it was fairly constant. Due to the volatility of the encrypted market, the price movement of TRX was not as it was last week. However, things seem ready to change with TRX to break its trend line.
At the time of writing this article, the price of TRX was about $ 0.0234 with a market capitalization of about $ 1.5 billion. However, TRX did not make the spectacular move that was expected from it. His last bullish move pushed the currency upwards above 50 and 100 EMA. However, the 200 EMA is still just over its current price.
History of TRX
Since June 2018, Tron has not exceeded the 20-day moving average since the TRX market activity has declined. As a result, it seems to be moving towards the resistance of the 9-day moving average. Despite this, TRX could jump to the top if it manages to overcome the 9-day moving average or the current trend line that cryptography achieved in the third week of June.
What the graphs say
When reviewing the technical charts, the price seems to indicate an increase of $ 0.05 or more before the end of 2018. It is worth noting that once the price reaches $ 0.03, TRX will have reached the resistance of the moving average at 20 days.
By examining the technical charts, you can see TRX trendline has had several trend areas that have influenced the price of TRX. If the TRX were able to push above the current trendline, it would be easy to increase and start testing other resistant areas.
It is worth noting that TRX has had some waves of attractive prices that investors have the opportunity to pull the trend line. With this in mind, if TRX is able to maintain the current price, the breakout is imminent. Soon it could reach $ 0.03.
The other side of the coin
If TRX does not reach the bullish momentum and pauses to a downtrend of the trend line, it would have a negative effect on its price. This is because TRX has remained consistent due to its current level. If it falls below the existing trend line, the price will fall.
However, there is much expectation that Tron will increase in the coming days. He recently presented a developer portal for DApp developers. TRX is looking at this time stable as other crypto coins in the market show little movement.
It is currently 3% green when considering the last days. This could be due to the announcement of a developer portal. The Tron developer portal will help DApp developers understand Tron. This will help to attract more DApp developers. With the arrival of other developers, this will increase the price.
In recent weeks, Tron has proved to be a developer favorite in the blockchain world. Beyond that, it is worth noting that Tron is quite efficient and scalable. The price seems destined to rise and recent projects could help to raise the price.