Tron News: Tron, like all digital coins, rose this week as investors welcomed Coinbase’s listing. Most currencies, including BTC, ETH and Dogecoin, have reached their all-time highs. Profit-taking, however, has pushed most currencies slightly lower in recent hours – the four largest currencies have lost more than 2% in the past 24 hours alone.
Meanwhile, there’s been a lot of activity in Tron lately. On the one hand, the amount on Thera’s blockchain has reached more than $24 billion, slightly more than the Ethereum network. In a statement, Justin Sun, founder of Tron, said:
With this historic milestone, I am proud to say that Tron is well positioned to become the global settlement layer and blockchain protocol of the future.
Forecast iron prices
Looking at the four-hour chart, we see that the price of Tron has reached an all-time high of $0.1687 this week. We can also see that the currency has formed an ascending channel pattern. In fact, he is now trying to go down that channel. It also broke through an important support level at $0.1490.
Consequently, I think TRX will fall further in price as the bears have targeted the bottom of the channel at $0.14, which is almost 10% below the current price. However, a rise above $0.16 would disprove the bearish thesis.
Don’t miss your chance! Follow us on Telegram and Twitter.
TRX price chart
- Download our latest quarterly market report to see our long-term trading ideas.
- Follow Crispus on Twitter.
- Do you enjoy reading our updates? Become a member today and gain access to all of the limited-edition content. He’s free to join.
Read the rest of the article at investcube.com.
Forex and Contracts for Difference (CFDs) are very risky and can lead to significant losses. All opinions, news, research, analysis, prices or other information provided by InvestingCube are for general market commentary purposes and do not constitute investment advice.
The post-preview awards for Tron: The post TRX may fall 10% to $0.14 appeared first on InvestingCube.