Tron [TRX] set to breach $0.0255 key resistance as market maintains bullish momentum
The cryptocurrency market has made some lost ground and is back above the $120 billion mark. The market is showing a sign of stability which is least associated with the crypto market. The market has shown no major movement in the past 24 hrs and has registered moderate gains for most of the leading coins which are trading in the green. One such coin that has made marginal gains is Tron, which is up by 0.20 percent and is trading at $0.024701. The total market cap of TRX stands at $1.64 billion and the coin is currently the eighth largest coin in terms of market cap. The bullish trend in the market continues which bodes well for everyone connected with the market.
At the time of print, Tron is trading at $0.02472 which is below the support level at $0.0263. The coin has been range bound for quite some time and there are indications of bulls’ presence. The bullish momentum has been sustained today as the price made its way to $0.02560. Currently, the bulls are fighting the bears to break out of the resistance level at $0.0255. The hourly RSI indicator is at 43.6267 and the coin is slowly making its way towards the oversold territory. The MACD shows that the coin is in a bullish zone and the 100 EMA line shows an uptrend. The bullish momentum has been sustained by the coin. The bears returned briefly but it seems that the coin will continue its journey up north in the short term.
At the time of press, the coin is down by 0.30 percent and one TRX is equivalent to 0.00000676 BTC.
In an interesting development last week, 0xGames announced that it has joined hands with Tron to launch games on the latter’s blockchain. The Cyprus-based game development company is the latest addition to the Tron Arcade. With this new partnership, the company is also planning to launch 0xWarriors on the Tron blockchain. Beta version of the game is already out on the blockchain.
In an interesting insight, statistics from DappRadar brought to light the growing popularity of Tron. The statistics suggest that only three of the 50 top dApps are currently running on the Ethereum blockchain. Out of the top 50 dApps, 21 dApps run on Tron blockchain while 26 runs on the EOS blockchain.
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