• TRX has lost over 6% in recent 24 hours. 
  • The coin is sliding down despite positive fundamentals.

TRX/USD topped at $0.0399 on April, 8 only to slip below $0.028 by the time of writing. The 11th largest cryptocurrency has lost over 6% on a day-on-day basis and became one of the worst-performing coins out of top-20. TRON’s market capitalization has reached $1.8 billion, while an average daily trading volume settled at $461 million. 

What’s going on 

TRON’s project is bubbling with updates and news. There are a lot of developments and updates either implemented or scheduled in the nearest future. Thus, Tron Foundation recently announced TRX listing on a cryptocurrency exchange CoinTiger. The asset is initially available in pairs ETH/TRX, XRP/TRX, EOS/TRX, LTC. /TRX, XLM/TRX, BTT/TRX . 

However, the fundamental developments seem to have little effect on the price influenced mostly by sentiments and technical factors.

TRON’s technical picture  

TRX/USD bulls stopped short of $0.0310 handle, which proved to be a hard nut to crack. We might see more sell-off towards $0.0250 (DMA100) before the upside trend is resumed. However, if this barrier is cleared, the downside may be extended towards $0.0224-$0.0220. This area includes DMA200 and the lower boundary of the previous channel. 

On the upside, a sustainable move above $0.0300 will bring more buyers to the market with the next focus on $0.3100.  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP