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TRON (TRX) added to OKEx marginal trading

  • TRX/USD has gained over 97% in a month.
  • OKEx now allows trading TRX on margin.
TRON (TRX) added to OKEx marginal trading
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

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.

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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