By Dmitriy Gurkovskiy, author at RoboForex Blog
On Tuesday, April 28th, the TRX keeps growing smoothly. It is generally trading at 0.0145 USD; the market is positive.
On H4, TRX/USD demonstrates a stable uptrend. The MACD has moved to the positive zone, i.e. factors are promising further growth. However, note that this growth is a correction of the preceding declining wave. By now, the quotations have reached 38.2% Fibo and may rise to 50.0% (0.0169 USD). Also, there is a divergence forming, warning of an upcoming trend reversal. It will be signaled by a breakaway of the support line near 0.0133 USD. The main goal of the decline in the mid-term perspective will be the last low of 0.0071 USD.
On H1, the TRON is demonstrating just a more detailed picture of the uptrend. Note that the Stochastic has moved to the overbought area, confirming the potential of further growth. However, the Black Cross will reverse the current trend.
Among fundamental news, our attention is attracted to the upcoming ICO of the project called JUST belonging to the head of TRON Justin Sun. This project is a decentralized lending platform supporting, among other things, the placement of Sun’s own token TRX. It, in turn, is planned to be used for issuing a stablecoin called USDJ. Placement will take place at the Poloniex exchange.
What also looks interesting is the possible placement of decentralized TRON-based apps in the Samsung Galaxy Store. Users from the US and Europe who own Samsung smartphones will be able to test the new generation of blockchain-based apps on their gadgets.
The TRON is known to integrate into the Samsung mobile devices for the first time in autumn 2019, alongside with the BTC and Ethereum. However, now the TRON is the only blockchain-based project that has a separate section in the Samsung Galaxy Store. This is a serious advantage because the Store is the largest application store in the world. More decentralized TRON-based apps are expected, which will be a good foothold for the cryptocurrency.
Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.