TRON (TRX) added to OKEx marginal trading
|- TRX/USD has gained over 97% in a month.
- OKEx now allows trading TRX on margin.
Cryptocurrency exchange OKEx added marginal trading functionality for TRX/USDT и TRX/BTC. Now the platform users will be able to use borrowed financing to open and increase positions in the above-said trading instruments.
This news might have played the role in the recent TRX rally. The coin gained over 27% in a week and nearly doubled its value in the recent 30 days with the recent high set at $0.03442. While TRX/USD retreated from the tom amid global cryptocurrency sell-off, it is still moving with a bullish trend with strong support at $0.02500 level.
Looking technically, TRX/USD will need to regain $0.0294 (Wednesday's high) to mitigate the immediate bearish pressure. Once above, the price will continue moving towards the psychological $0.030, where some fresh selling interest might appear.
On the downside, a sustainable move below $0.025 will trigger stops and push the price towards $0.02216, which is the lowest level of the week.
It is worth noting, that TRON surpassed both Bitcoin SV and Tether by market value. The coin's capitalization is registered above $2B.
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