Tron (TRX)’s Current Market State – Are The Bulls Approaching Before Tron’s Secret Project?
Tron eventually completed an upside break from a double bottom neckline, and this is a precise indicator that the gains are coming.
On the other hand, the price got rejected nearby resistance at 0.04000, and it’s currently pulling back in order to gather more energy for the bulls.
Tron’s price seems to have bounced on the retest of the broken neckline, and it’s now ready to resume the climb towards the extension levels.
Cryptos have had quite a great run recently, but it seems that the momentum might be running out of steam due to lack of fresh catalysts.
Traders are currently keeping closer tabs on the SEC decision regarding Bitcoin ETF on SolidX, and they are hoping to gain more reasons to place more funds back into cryptos such as TRX.
For the moment, the attention is on the traditional markets such as stocks, commodities and currencies because easing trade concerns have triggered high gains in these areas of the industry.
Tron’s big announcement is on its way
July 30 marks the day when Tron’s Justin Sun will reveal the much-awaited project that is set to mark the next level in TRX innovation and development.
Back in June, during a celebration live stream that was commemorating Tron’s independence Day, Justin Sun teased his fans. He unveiled the news of a secret project that was on its way and was scheduled to be revealed at the end of this month.
Tron Virtual Machine was also mentioned by Sun who said that it would come together with the release of the mysterious project.
TVM will provide a protocol for user-friendly blockchain generation that will drive new coin creation on the Tron Main Net, and it will also pave the way for smart contracts.
The secret project will be announced the next week, and there are a few speculations floating around it, one of them involving BitTorrent.
Founder of TRON (TRX)
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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.