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Latest news from Tron
The success of any project lies in its ability to attract new users. No matter the size or level of funding. Bitcoin has become an instant hit because of its ability to cut the gatekeepers, the middle men who continue to pull the slightest penny into the inherited patterns.
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Taking the same path, Tron slowly but surely moves toward its ultimate goal of not only decentralizing the Web, but also creating an entertainment ecosystem with a two-pronged approach. First, it is a smart procurement platform that allows users to create tokens, launch applications and receive funding from interested parties.
On the other hand, it is also a place where talented coders are encouraged to develop and contribute applications. Tron Arcade is an example. With a $ 100 million prize pool spread over three years, the Tron Foundation is watching one of Southeast Asia's three blockchain plants, South Korea.
Read also: BTT badociated with XRP and other BitTorrent updates
This is a strategic move and verified statistics show that in 2018, the country's players spent huge sums of $ 5.8 billion. With its scalable, high-speed platform already attracting Ethereum developers, Roy Liu, Business Development Director, has signed an agreement with two of South Korea's largest gaming badociations. Korea Mobile Game Association (KMGA) and the Korea Blockchain Contents Association (KBCCA). ).
Add to that Justin Sun's recent comments that their goal this year is education, it's only a matter of time before they see how their efforts will bear fruit and influence price action.
TRX / USD price badysis
Despite this, TRX does not do better. After an initial pump that temporarily raised prices above 2.5 cents, prices plummeting and testing primary support levels again. Be that as it may, we will continue to have an optimistic view of the digital badet. However, it all depends on how quickly TRX prices recover from current lows, as bulls return to the trend, pushing prices around 4 cents and later, 6 cents.
Trend and Candlestick Training: Bullish, Escape Training
In the run-up to BitTorrent ICO, the need for TRX and BNB temporarily inflated the coin, causing a pricing error that is being corrected. Despite this decline, prices have technically evolved on a bullish trend with clear support at 2.3 cents – 2.5 cents per zone.
Given the price developments over the past few days, it is likely that the retest phase is over. This support will retain more water if, today, closes like a bullish rise of the support line with decent volumes.
If this is the case, at-risk traders should start looking for opportunities in shorter time frames with prime targets at 3.1 cents. The 3.1 cent mark corresponds to the top of the inverted pin bar on January 27th and a conservative buy trigger line whose breakout could catalyze a recovery to 4 cents and even 6 cents.
Volumes: Bulls
On average, trading volumes between mid-December and early January were around 16 million euros, according to data relayed by Binance. The correction wave between mid-December and February was close to 8 million. This discrepancy means that buyers are technically responsible and, with the evidence from the candlestick arrangement, it is likely that volumes will increase. Ideally, the volumes of signaling bulls should exceed 8 million averages and even exceed 42 million on 4 February.
All graphics are courtesy of Trading View – Binance
This is not an investment advice. Do your research.
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