Tronix

Technical Analysis of Tronix

The cryptocurrency market is little changed this Wednesday but it is very important that the price of Bitcoin is again near $8 000. The current price of TRON is close to the short resistance level which stands at $0.03 but it is important to say that the price of this cryptocurrency advanced recently above this level. According to some estimates, TRON has a bright future because this network allows users to create content, websites and applications without having to rely on centralized services. The positive thing is that lots of partners are already supporting the TRON network, TRON partners include the likes of Gifto, Game.com, oBike, Peiwo among others (on the official website, you can find all TRON partners). We can say that the price of Tronih has stabilized above $0.020 but in my opinion, this is a highly speculative cryptocurrency and still very risky. As long as TRX is below $0.05 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.020 and $0.030 – If the TRX jumps above $0.030 that would be a “BUY” signal and the open way to $0.035. If the TRX jumps above  $0.05 that could be a strong signal of the trend reversal and the open way to $0.08. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.

Advice: Launched in 2017, TRON is a blockchain-based entertainment content sharing platform that aims to transform the global entertainment industry. TRON has own cryptocurrency known as Tronix (TRX) and lots of financial institutions and technical specialists are already supporting the TRON network. In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, TRX remains in bearish phase but if the price advances again above $0.030 next targets could be located around $0.035 and $0.050. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.

Technical Analysis of Tronix

Launched in 2017, TRON is a blockchain-based entertainment content sharing platform that aims to transform the global entertainment industry. TRON has own cryptocurrency known as Tronix (TRX) and lots of financial institutions and technical specialists are already supporting the TRON network. According to some estimates, TRON has a bright future because this network allows users to create content, websites and applications without having to rely on centralized services. The positive thing is that lots of partners are already supporting the TRON network, TRON partners include the likes of Gifto, Game.com, oBike, Peiwo among others (on the official website, you can find all TRON partners). We can say that the price of Tronih has stabilized around $0.020 but in my opinion, this is a highly speculative cryptocurrency and still very risky. As long as TRX is below $0.05 this cryptocurrency is in the “SELL” zone. Short term support and resistance levels are $0.020 and $0.030 – If the TRX jumps above $0.030 that would be a “BUY” signal and the open way to $0.035. If the TRX jumps above  $0.05 that could be a strong signal of the trend reversal and the open way to $0.08. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.

Advice: In my opinion, this is a highly speculative cryptocurrency and still very risky, I would invest only a small sum of money in this cryptocurrency. As for the technical picture, TRX remains in bearish phase but if the price advances above $0.030 next targets could be located around $0.035 and $0.050. On the other side, if the TRX falls below $0.020 that will be a strong signal “SELL” signal and the next target could be around $0.015.