Tron Price Analysis: Tron (TRX) Takes Flight Attacking $0.07

Tron is presently holding the number ten position amongst the leading digital currencies in the world based on market cap, and the market cap of the digital currency is over $ 4 billion. The digital currency has been in the limelight after its implausible performance and lined up development events for this year. The value of Tron increased to trade above the $0.10 towards the ending of April.

The Effort of the Company to Increase the Value of the Coin

The digital currency gave in to bearish pressure in the crypto market, stripping it of the gains it made in last month. The launch of Tron Mainnet is scheduled for 31st of May 2018. Moreover, the Tron team has said that the platform is prepared to migrate from Ethereum blockchain to Tron blockchain.

This firm has been known to reward its investors and users with valuable items such as Tron tokens. In December last year, Tron in collaboration with Binance Exchange promised the Tron community a Mercedes Benz and Maserati. The CEO – Justin Sun, also announced that the firm will be giving away a home. But further details of these promises will be released during the Mainnet launch a few weeks from now.

The Current Value of Tron

At the time of writing, the digital currency is trading at $0.066, although its trading value was over $0.072 during the Asian trading hours. The value of the Tron against the US dollar declined below the $0.070 mark, but it was supported by the 50-day simple moving average and the 100-day simple moving average.

On the upside, bulls are considering attacking the $0.074 mark before gathering momentum to move towards the $0.08 mark. The present support level for the digital currency is at $0.068. Nevertheless, there are other support target zones of the cryptocurrency, including zones at $0.066 and $0.064.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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