- “COINEGG will support the mainnet switch of Tron (TRX) and plans to carry out relevant mainnet mapping tasks in late June…” read CoinEgg’s announcement.
- Tron price is facing resistance at $0.06, besides the moving averages are also limiting the gains.
Tron has been shinning in the market this week with the endless listings on different exchanges. Justin Sun, founder of Tron thanked CoinEgg exchange for adding TRX as a trading asset. Tron is in the middle of a mainnet launch and is preparing for the token swap from Ethereum to Tron blockchain. CoinEgg also said that it will be supporting the impending migration. The announcement by CoinEgg reads:
“COINEGG will support the mainnet switch of Tron (TRX) and plans to carry out relevant mainnet mapping tasks in late June. All current ERC-based TRX tokens will switch to new TRX tokens based on the new chain.”
Another Tron listing is on BitoPro, which is based in Taiwan. The deposits, trading as well as withdrawals of TRX began today (Thursday). Tron will be available for trading on the exchange in TRX/TWD trading instrument. The Taiwanese listing brings the total listing a single week to five.
However, as much as Tron is shining in the listings department, the price is still lagging reaction to the support. TRX/USD is still trading in the falling wedge pattern and it looks as though it is a long way to a breakout. At the moment, Tron price upside has been limited below $0.06, but below this, both the 50 SMA and the 100 SMA are limiting gains as well. Furthermore, the RSI is pointing downwards to show that selling pressure is rising. The level at $0.058 should continue to offer support in the short-term, but a stronger support has been highlighted at $0.055.
TRX/USD 1-hour chart
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