Tron Price Analysis – This Is The Essential Level To Keep An Eye On
During the past few days, the crypto market saw a bit of loss, and this was as a result of Bitcoin sideways. Most of the altcoins are charging back their gains, and this includes Tron as well.
At the moment of writing this article, TRX is placed on the 14th position on CMC and the coin is trading in the green. TRX is now priced at $0.020737.
Cryptopotato writes: “Tron consolidated around $0.019 for six days, and now it appeared the bulls are beginning to show interest again.”
The truth is that the whole crypto market is giving bullish signals since yesterday and experts are waiting to see Bitcoin hitting the psychological level of $10k once again.
They also wrote that Tron is now targeting the grey resistance zone on the daily chart.
It’s been revealed that after this area is breached, then we’ll be able to see more buying pressure in this market.
On the other hand, if the bullish actions fail, “Tron may resume consolidation or even drop to the nearest support.”
An important level to keep an eye on
The same online publication mentioned above notes that “The important level to keep an eye on is the critical breakout zone at $0.022 resistance.”
They continue and point out that after clears this zone, the next possible resistance is $0.030, and then $0.035 and beyond.
Tron revealed a project to reshape the Internet
In other news, Tron has recently revealed a project to re-shape the Internet.
Not too long ago, Justin Sun has invited every member of the global crypto community to take part in the operations of his new privacy protocol, MPC Torch.
To become a contributor, a user should operate a server and subscribe by email.
— Justin Sun🌞 (@justinsuntron) February 4, 2020
As expected, the community received the news with enthusiasm and they sent congratulatory messages to Sun in the comments.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.