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Latest news Tron
Tron is an interesting project. As an intelligent bargaining platform, its goal is crystal: to build one of the largest blockchain-based operating systems in the world. Their unwavering dedication to carry out this mandate can not be called into question. So far, their track records have all the characteristics of ambition while building the framework that contributes to truly decentralized Internet infrastructure.
To read: Update of the cryptocurrency market: Crypto Winter is becoming colder
The clues are everywhere. Months after launching their mainnet and following it with a Tron Virtual Machine that is not only compatible with the Ethereum VM, the co-founder is apparently reaping the fruits of his tireless marketing efforts.
🔥#TRON virtual machine launch event. 📡Blockchain in the global ecosystem, #TRON to the future. 📹Please wait for the live streaming at 9:30 am on August 30 (SGT), there will also be a lottery draw, see you there. 👇#TRX $ TRX https://t.co/q553J2pHjW
– Justin Sun (@justinsuntron) 27 August 2018
However, like the rest of the market, TRX is falling but not out as Bitcoin Cash. In fact, his ability to recover earned him a temporary place in the top ten. With projects migrating from Ethereum to Tron, sooner or later, TRX will soon stabilize and stabilize above Cardano. In a tweet that may have changed BitGuild's views, Sun has revised the benefits of what migration projects are set up to collect from the platform.
📣📣📣ANNOUNCEMENT📣📣📣
Bitizen and the world of Bitropolis are moving into a new home on the TRON network.
To facilitate this transfer, we will take the portal and the Bitizen maintenance game offline. (1/2) pic.twitter.com/BtUEYQI0LN
– BitGuild (@BitGuildPLAT) 6 December 2018
Read also: The future is brighter than ever for Crypto, says Roger Ver
In addition to the high throughput of 2,000 TPS and the increase in network activity, which processed 1.96 million in the last day, the network provides for the integration of zk-SNARKs in the first quarter of 2019.
TRX / USD price analysis
Weekly chart
With a market capitalization of $ 884 million, TRX is the 11thth the most precious coin in space and could overturn ADA, gaining a place in the top 10.
But before that happens, losses are still low and TRX is actually the top performer after losing 8.1 percent in the last week. However, the TRX bulls failed to push prices above the previous resistance support level at 1.5 cents.
From the simple alignment of the candle, the bears have control. As they move within a bear breakout model set to run for a week ending November 25, we recommend traders to look for sales opportunities in shorter periods of time, so if prices they can not break and trade above last week's highs of 1.7 cents.
Daily chart
Losses on the last day are slight and this is perhaps a positive development for the TRX / USD price action. From the point of view of the effort with respect to the result, the bulls are under control, even if temporarily, thanks to the failure of the sellers to eliminate the gains recorded on 28 November.
Even with this, we will adopt a prudent approach, aware that price and morale will increase for traders. There is a continuation of these gains as the bulls flock, pushing the prices of the TRX over the main resistance line of 1.5 cents a week ending on 25 November and triggering the short-term bulls aiming for 2 cents as a double bar inversion model in the weekly chart.
This is the ideal prediction, but if there are any discounts today and for some reason the prices of the TRX / USD fall below 1 cent then Tron is likely to test his historical lows in Q1 2019.
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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