Tron started his operations last year and since he started he achieved great results in the encrypted market. At the time of writing, TRX trades at $ 0.021 after having increased by 3% in the last 24 hours. TRX / USD is aggressively moving on its daily charts and a steady confident movement may soon reach the party.
From a technical point of view, TRX is trading at a support level greater than $ 0.0230 and a resistance level of $ 0.1004. Tron (TRX) is in a falling wedge that has been so since the beginning of its correction. Meanwhile, the stochastic is closing, which shows that there may be an upward coming correction and possibly a rupture. The possibility of correction can be measured with Fibonacci points targeting the main points at 0.0476, 0.0577 and 0.0650.
It is important to know that the daily TRX / USD charts show that a break is evident as the falling wedge is almost finished. A possible situation is that the falling wedges usually break at the 5th contact (E) – which is probably the following month.
That said, Tron's EMA position is still on the bear side as its value is less than 21 EMA. In addition, an ABC correction is set based on the daily TRX charts in the other direction of the Elliot 1-2-3-4-5 wave. This implies that in the coming months there will be the possibility of a bullish movement.
Tron (TRX) is a decentralized platform that operated under Ethereum before it became independent. This decentralized platform is number 12 according to CoinMarketCap with a market capitalization of $ 1,386,288,958; he is now a rival of Ethereum.
Over the past year, Tron has done a lot of business and has a lot of hype around it. The analysis of Google Trends shows that Tron has attracted more users globally and is one of the most requested altcoin. Even with the hype and attraction, it did not reach the value and market position of Ethereum.
We are not sure if he will overtake Ripple and Ethereum in their respective positions, but it is certain that there is a rising uptrend coming in Tron (TRX). Once again, the daily TRX charts show that the TRX fall wedge is set to be complete and a bullish breakout is imminent. You need to know that if there is no breakout, then you must test a new resistance level before a breakout occurs.
Subsequently, the enthusiasts of the crypt monitored the meeting between Tron's CEO, Justin Sun, and Twitter. According to sources of escape, the meeting was to decide how to remove the scam robots – which is currently a big deal for Twitter these days. Presumably, Tron Foundation and Twitter are working closely to combat these scam robots to make social media safe for their users. It is also important to know that if Tron works with Twitter on this topic, it will be beneficial, not only for Tron but also for his crypto-currencies TRX.
In the end, let's not forget that over 2.2 million users and companies can now take Tron (TRX) as a payment method like the blockchain company in partnership with CoinPayments recently . This is undoubtedly a huge step towards encrypted adoption, which will ultimately have a positive impact on the entire crypto market and not just on Tron.
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