• 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.

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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