Cryptocurrency TRX Tuesday remains under pressure but aggressive sales anymore. Key trades are about $0,0158.
To understand what is happening with cryptocurrency TRON (TRX/USD), it is necessary to consider the daily chart. Here we can see a stable channel reduction to the basic minimum — $0, 0111. In the present context, the decline may look like the only version of events, says Dmitry Gurkovsky, senior analyst at RoboForex. But you should pay attention to the formation of convergence on MACD after reaching the important support level of 78.6% on the Fibonacci scale. It is also possible to interpret the observed decrease as the second corrective wave theory the Elliott. A breakout of the current resistance line may become the primary signal to start development of the third wave Elliott.
On 4-hour chart cryptocurrency is possible to distinguish the formation of consolidation “Flag” after the momentum of decline. Note that the Stochastic went into the oversold zone and formed “Golden cross”, which may signal a coming rise. But for the development of the upward movement in the quotations necessary to overcome the resistance around $0,0162. However, to exclude the breakout of the local minimum $0,0151 also not worth it. As a result of this breakthrough reduction can go up to $0,0135.
Cryptocurrency exchange Bithumb added the possibility of trading cryptocurrency TRX in pairs with the us dollar and BTC. Extending opportunities to trade the TRX in any case the good news: the wider cryptocurrency exchanges and the easier investors to buy it, the better.
However, while TRX does not react to this information, moreover — the last week for cryptocurrency have been quite “stressful”, with a price drop of almost 14%.
Maybe the effect of the low level of trust among the participants to the Bithumb: informed investors ‘ attention was attracted by the information about the serious leak of personal data from the stock exchange. In a world where the most sought after privacy and security, this is a big blow to the reputation.
However Bithumb in any case have to work on security systems: South Korean banks have tightened requirements for exchanges where cryptocurrencies are traded, and the number of sites will not be able to extend its Bank tolerance, yet will not launch the updated mechanisms for the protection of users and their data.
Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex and ihodl are not responsible for the results that can occur when using trade recommendations submitted reviews.
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