Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

TRON/USD- Time to buy the dip on account of TRX Main net launch.

  • Tron jumped almost more than 350% from the low of 0.02280 and secured its place back in top ten crypto currencies by market cap (10th position as of today). At the moment Tron is operating from ERC20 smart contract.  ERC 20 is the technical term used for smart contract which uses Ethereum blockchain for implementing tokens. ERC is nothing but Ethereum Request for comment and 20 is number assigned to this particular request.
     
  • TRX has shown minor decline and we can use this opportunity to buy TRX tokens before launch of Main net on May 31st 2018. The migration of Tron from ERC20 will be conducted on Jun 21st 2018.Binance will support Tron’s switch to Main net.
     
  • Technically, Tron has broken major near term support 0.0800 and any convincing break below will take to next level till 0.075 (20- day MA and trend line support)/0.0700.
     
  • On the higher side, any break above minor trend line resistance at 0.08400 will take the pair till 0.09300/0.100.

It is good to buy on dips around 0.0755-60 with SL around 0.06900 for the TP of 0.0930/0.100.  

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.