TRON Traders Waiting for a Breakout in Upper or Lower Area

TRON Traders Waiting for a Breakout in Upper or Lower Area

January 17, 2019 Off Steven Anderson By Steven Anderson

The supply zones for TRX/USD in the medium-term trend are ranging in the supply zones from $0.04000, $0.05000, 0.06000 respectively.  The demand zones trend in ranges $0.01000, $0.00900, 0.0800 respectively.

There was a bearish movement noted in the market yesterday and later the bulls gathered some movement to move upwards from $0.02467.

In the supply area, the TRX/USD pair was above two EMAs at $0.02573.  The momentum did not sustain or carry over today.  The momentum dropped before the end of the day and the bears dropped at $0.02490 in the demand area.

The bearish trend sustained momentum today. At the time of reporting the news, TRON was trending at 0.2418137. 

If there is a breakout in the upper range a buy is considered favorable and if the breakout will be in the lower range, then a sell will be considered in the retest. Traders are waiting for a breakout in the upper or lower area to decide on their new position with TRON.

TRON platform has been integrated into a game by Blockchain Cuties.  Thus, Blockchain Cuties has got the status of a crypto-collectible game. However, this game was already available on EOS and ETH.  This game has a unique market place. Thus, it is seen that TRON might play the rival in the in-game market place for ETH.

Of note, Justin Sun, founder of TRON brought himself a unique cutie that has been custom drawn. 

ABCC Exchange announced their partnership with TRON (TRX) to list TRC 10 tokens. 

TRC-10 tokens are easy to create and it makes use of very little computing power.  Since these coins are created with limited use of the bandwidth from the network, the TRC 10 transactions do not incur a high fee.  TRC 10 tokens work without the need for the TRON Virtual Machine.

TRC-20 requires an elaborate understanding of the functioning of the smart contracts.  TRC20 tokens can be executed only with the TRON Virtual Machine. Since TRC-20 consumes a lot of the bandwidth, there are transactions costs involved to help with the energy spent per transaction.

The Nitron Summit is all set to be organized today in San Francisco.  This conference is all set to bring in developers, crypto enthusiasts, and blockchain industry pioneers. Most of the participants are influential personalities.

ABCC exchange has been pairing nearly 105 digital assets with BTC, ETH, and Tether. It is expected that TRC 10 Tokens will be paired with TRX, therefore making the digital asset to be able to be a base pair on the exchange.

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