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TRX Surge 58 percent, back to top 10

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Months of bear pressure have penalized several development arms and Consensys. Consensis, chaired by Joseph Lubin, plans to cut staff due to deep losses in ETH. Like TRX, ETH prices have declined 90 percent from $ 1.400 to $ 100. According to Verge, the staff of about 36 startups incubated by Consensys will face the dismissal and Justin Sun is taking advantage of this opportunity.

In a Tweet, the unconventional founder of the smart bargaining platform invited interested employees to send their CVs to the Tron Foundation:

All in @ConsenSys and @ethereum, please send your resume to [email protected] and embrace your new opportunity! You are welcome to join our rapidly growing and well-financed #TRON family. #TRX $ TRX #ETH

Coincidentally, this comes at a time when the TRX's performance is solid. It increased by 58% in the last week replacing ADA and Cardano with a market capitalization of $ 1.33 billion. This means that TRX has returned to tenth place on the liquidity list, further increasing currency holders who have had to face double-digit losses after reaching a peak at the start of this year. Tron continues to make giant strides. In addition to launching their blockchain, the platform attracts quality developers and projects willing to reap benefits such as speed, zero cost and high throughput.

Tron (TRX / USD) Price analysis

TRX / USD price analysis

After a 58 percent expansion in the last week, TRX is correcting and down 5.1 percent in the last day. The retracement was expected, and as long as prices are traded above 1.5 cents, the bulls should be in charge.

In line with our previous TRX / USD business plans, any downturn should be a buying opportunity and traders should try to buy ideally from around 1.5 cents to 1.7 cents more, if prices fall to below the lows of 1.9 cents. On the back, earnings above 2.3 cents or today's high would push prices above 2.5 cents to 3 cents and 4 cents.

Here is our TRX / USD business plan:

Buy: 1.7 cents, 2.3 cents

Stop: 1.5 cents, 2 cents

Objective: 2.5 cents, 4 cents

All graphics courtesy of Trading View

Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.

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