- Indicators show that the path of least resistance is to the upside.
- Tron goes live on wiki and partners with vSport to build a healthier ecosystem for soccer and sports.
Tron is intent on closing the week’s trading above $0.07 despite the bear pressure in the market. Although TXR/USD broke out of the contracting triangle pattern, the bulls are battling to re-enter the narrow end of the triangle. Tron’s mainnet launch is due in a few days and we expect another sustained upside breakout above $0.08 prior to the event.
In the latest news related to Tron, Justin Sun announced that Tron has entered into a partnership with vSport ahead of the FIFA World Cup in Russia. The partnership was also confirmed by the Dutch footballer, Wesley Sneijder who welcomed Tron to vSport. Justin wrote on Twitter:
“Very excited for the #TRON + vSport partnership, a powerful alliance to leverage blockchain technology for solving issues in the soccer& sports industry. Sports fans: Get ready for a major user experience reboot!”
The co-founder of vSport, Qiang Bai is also very optimistic about the partnership and said that the collaboration will help to reward contributors in the sport industry. He added that they intend to use the capabilities of both parties to build a healthy ecosystem for sports and soccer.
Still, on Tron, the network has announced that it has gone live on wiki and that Apple has now added the support for TRX pricing on its popular Stock App. This development is in line with Tron team mission to have a smooth exit from the Ethereum blockchain. Justin Sun also relayed the news via Twitter saying:
“Apple has officially included $TRX pricing! Just add TRX-USD to your Stocks app. 1B @Apple users around the will be able to keep on top of #TRX market info. Come grow with us!”
Wiki is a page that contains information about Tron blockchain, developments among other things. The Tron team says “participants can participate in the construction of the Wiki Library using rst documents to write basic grammars or Sphinx documentation tools through GitHub and Crowdin,”
Tron price analysis
Looking at the charts, Tron is building a bullish momentum and the contracting triangle place the next target at $0.08. The moving averages will, however, offer resistance as the price retraces steps towards $0.08. The RSI is moving upwards while the gap between the 50 SMA and the 100 SMA is narrowing to signal that the path of least resistance is to the upside. TRX/USD is exchanging at $0.0705 besides it is supported at $0.067. But the major support rests at $0.060 zone.
TRX/USD 4-hour chart
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