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TRON Market Update: TRX/USD now listed at BTSE, market stays positive in the long run

  • The trading platform BTSE allows users buy and sell TRX and use it to fund their debit cards.
  • TRX/USD stays range with the long-term bullish bias.
TRON Market Update: TRX/USD now listed at BTSE, market stays positive in the long run
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

The cryptocurrency exchange BTSE added TRON (TRX) to the list of tradable instruments. The users of the exchange now can buy and sell TRX via BTSE's All-In-One orderbook as well as fund your BTSE Debit Card with TRX.  The card is accepted at over 53 million merchants globally.

"A warm welcome from BTSE HQ as we are pleased to bring you the news that Tron is the latest Top 20 cryptocurrency by market cap to be listed on the BTSE Exchange. This development is yet another step forward as we look to bring our loyal users even more options when it comes to your trading experience," the team commented.

According to the data provided by CoinMarketCap, BTSE is the 9th largest cryptocurrency derivatives exchange with an average daily trading volume of $128 million. The most actively traded instruments are BTC/PFC and BTC/USD.

TRX/USD: technical picture

TRON (TRX) is the 16th largest digital asset with the current market value of $1.1 billion and an average daily trading volume of $409 million. The coin has gained over 2% in the recent 24 hours and stayed unchanged since the beginning of the day. At the time of writing, TRX/USD is changing hands at $0.0176.

TRX/USD dropped to the middle line of the daily Bollinger Band at $0.0170 on Monday, July 13 and managed to recover since that time. The next resistance is created by the upper line of the daily Bollinger Band on approach to $0.0190. This barrier is followed by the recent recovery high of $0.0191 (July 9), while the ultimate bullish goal is the psychological $0.0200. 

On the downside, TRX/USD is supported by the above-mentioned the middle line of the daily Bollinger Band (now at $0.0171). If it is broken, the sell-off may be extended towards the daily SMA50 at $0.016 and SMA200 at $0.0158. This MA has been limiting TRX decline since May 31.

TRX/USD daily chart

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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