Tron (TRX) Cryptocurrency Coin Price Set to Break the Trendline
Last week, the price movement of TRX was quite steady. Due to the volatility of the crypto market, the prices movement of TRX has not been as it was last week. However, things appear ready to change with TRX about to break its trendline.
By the time of writing this piece, the price of TRX was around $0.0234 with a market cap of about $1.5 billion. However, TRX has not made the spectacular move that was expected of it. Its last bullish move pushed the coin upward above the 50 and 100 EMA. However, the 200 EMA is still just beyond its current price.
History Of TRX
Since June 2018, Tron has not passed the 20-day moving average since the TRX market activity has been dropping. As a result, it appears to be moving to the resistant of the 9-day moving average. Despite this, TRX could jump upward if it manages to overcome the 9-day moving average or the current trendline that the crypto got in the third week of June.
What The Charts Say
When you examine the technical charts, the price seems to indicate a surge to $0.05 or more before the end of 2018. It is worth noting that once the price reaches $0.03, TRX will have achieved the resistance of the 20-day moving average.
By examining the technical charts, it is possible to see TRX trendline has had different trend areas that have influenced the price of TRX. If TRX were able to push above the current trendline, it would be easy for it to surge higher and begin to test other resistant areas.
It is worth noting that TRX has had some cool price surges that have investors the chance to pull the trendline. With that in mind, if TRX is able to maintain the current price, the breakout is imminent. It could surge to $0.03 soon.
If TRX does not reach the upside momentum and makes a break towards a downward trend of the trendline, it would have an adverse effect on its price. This is because TRX has remained consistent due to its current level. If it dips below the existing trendline, it will decrease its price.
However, there is a lot of expectation that Tron will surge in the coming days. It recently unveiled a developer portal for the DApp developers. TRX is looking stable right now as other crypto coins in the market show little movement.
It is currently in the green by 3% when the last few days are considered. This may be due to the announcement of a developer portal. The Tron developer portal will assist DApp developers to understand Tron. This will help to draw in more DApp developers. As more developers come onboard, this will push the price up.
In the past few weeks, Tron has proven itself a favorite of developers in the blockchain world. Besides that, it is worth noting that Tron is quite efficient and scalable. The price seems set to surge, and the recent projects could help elevate its price.