The cryptocurrency seemingly picked up a bid after reports started doing the rounds that Tron Foundation founder Justin Sun acquired BitTorrent - the owner of popular file-sharing client uTorrent - for $140 million.
The acquisition has certainly revved up investor interest in the cryptocurrency.
Its market capitalization has moved above $3.2 billion.
The above chart shows TRX is trapped in a falling channel.
The broader outlook remains bearish despite double-digit gains seen in the last 24 hours.
TRX may attack the 100-day moving average, currently lined up at $0.0553 in the next few days.
A break above that level would expose the falling channel hurdle, currently seen at $0.0638.
Only a high volume close above the falling channel resistance would confirm a long-run bearish-to-bullish trend change.
Bearish scenario: TRX will likely drop to $0.032 if the bulls fail to defend $0.041 despite the positive news flow.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Tron Price Spikes After Blockchain Founder Acquires BitTorrent
pubblicato su Jun 19, 2018
by Coindesk | pubblicato su Coinage
Coinage
Menzionato in questo articolo
Notizie recenti
Vedi tutti
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.