News

TRON Price Analysis for April, 28th – TRX Aiming at Growth

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.

Related Post

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.

Dmitriy Gurkovskiy

Chief Analyst at RoboForex

Share
Published by
Dmitriy Gurkovskiy

Recent Posts

BTC ATH Close After Major Bullish Move, Top Analyst Still Thinks ALGT is a Better Choice

In the constantly fluctuating cryptocurrency market, Bitcoin (BTC) has stolen the spotlight with a dramatic…

9 mins ago

Fidelity Pursues Ethereum ETF Despite Potential SEC Hurdles

Fidelity Investments has taken a bold step in the cryptocurrency market by submitting a Form…

2 hours ago

Dogecoin Surges To New Heights Amidst Memecoin Frenzy

In an unexpected turn of events, Dogecoin, the beloved dog-themed memecoin, has skyrocketed to its…

2 hours ago

AGIX Token Unlock Boosts JasmyCoin Surge: BDAG Sold 4000+ Miners

BlockDAG Flies High with 4100 Home Miners Sold! AGIX Token Unlock Causes Frenzy! Jasmycoin Witnessing…

15 hours ago

From Rags to Riches: The Story of $100 Growing Into $200K with Bitgert Coin

There have been a series of success stories about cryptocurrency making new millionaires. We’ve heard…

15 hours ago

Rising Expectations: Expert Forecasts BEFE Coin Reaching $0.01

The current bull run is still in the early stages, and the pace of inflows…

15 hours ago