TRX increases by 8% after Justin Sun's next announcement

Tron recorded a 7.35% price increase over the last 24 hours of trading, allowing cryptocurrency to peak at around 0.039 USD. The price surge comes after Justin Sun, Tron's CEO, tweeted that he had a big announcement coming on June 3rd;

I did it! Great victory for the #blockchain community! Big reveal on June 3rd. Stay tuned! #TRX $ TRX $ BTT #BTT https://t.co/C2ZcINfcKb

– Justin Sun (@justinsuntron) June 1, 2019

Justin Sun said the revelation would be a "big win" for the entire blockchain community, which has many users speculating on the type of ad. Although this has not been confirmed, some have suggested that the future BitTorrent Fiel System (BTFS) would allow users to receive and host memory with others.

Tron now ranks 11th among the best market capitalization crypto-currencies, with a market capitalization of $ 2.60 billion. Tron is only $ 30 million behind Stellar (XLM), 10th.

Looking at the TRX / USD chart at 1 day:

• Against the US dollar, Tron has now managed to create a new high for 2019 above $ 0.036 and even reached the $ 0.040 level before falling slightly. This has now created a new 11-month high for cryptocurrency. We can see that Tron has now reached the resistance level of a long-term bearish Fibonacci retracement around $ 0.03930.
• From the top: the nearest resistance level is between 0.03930 and 0.04040 dollars. Above $ 0.041, the highest resistance is $ 0.04363, $ 0.046 and $ 0.048. If prices rise above $ 0.048, then the highest resistance is $ 0.050.
• From the bottom: the nearest support level is 0.038 USD. Below that, additional support is 0.03636 USD, 0.03390 USD and 0.032 USD. Below, additional badistance amounts to 0.03099 USD, 0.030 USD and 0.028 USD.
• The volume of transactions has recently increased, after interest sparked by Sun's tweet.
• The RSI also recently rebounded after level 50 to show that bulls remain in control of the market dynamics.

Looking at the TRX / BTC 1-Day chart:

• Against Bitcoin, Tron recently bounced around the 310 SAT level to reach the 450 SAT level. We can see that TRX / BTC had become a resistance around the EMA 100 days before decreasing slightly.
• From the top: the nearest resistance level is now around 470 SAT, where the EMA is 100 days old. The highest resistance is 500 SAT, 530 SAT, 563 SAT and 625 SAT. If the bulls continue to climb, the additional resistance is 700 SAT, 750 SAT and 788 SAT.
• Bottom: The nearest support level is now 430 SAT. Below, the support is at 411 SAT and 400 SAT. Below, the other supports are at 371 SAT, 341 SAT and 310 SAT.
• The stochastic RSI is currently trading in overbought conditions, which could result in a short-term correction.

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