Tron Price Analysis: TRX/USD calm before the storm
|- Tron price is trading steady ahead of the scheduled hard fork tomorrow – Thursday 27th February.
- Expectations are four new enhancements to the network, with focus on the “Multi-signature and Account management” feature.
The Tron price in the latter part of Wednesday’s session is trading steady, minor losses at the time of writing -0.25%. TRX/USD has been moving within a narrowing range since 14th January, a lack of commitment in terms of direction.
In terms of the above-noted range, to the upside, this is capped at $0.02800, with the low of the range at $0.02270. The limited price action comes ahead of the scheduled hard fork on February 28th. Eyes on the 3.5 upgrade, which will see Tron add four new enhancements, with the stand out - the “Multi-signature and Account management” feature, as this is heavily focused for its institutional grade investors projected to flow from BitGo.
The key levels near-term are as noted above, with the current narrowing range observed. Aside from this, to the upside, a prior acting ascending trend line of support is in the way. This can be seen tracking just ahead of the mentioned upper range, $0.02800. The community should be prepared for potential excessive volatility of the TRX price tomorrow.
TRX/USD daily chart
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