CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,990.00
  • ethereum
    ETH$1,914.75
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Tron Price Analysis: TRX Surges 8% After Justin Sun’s Upcoming Announcement Tweet

    Tron Price Analysis: TRX Surges 8% After Justin Sun’s Upcoming Announcement Tweet

    Author: Yaz Sheikh

    Last Updated Nov 26, 2019 @ 12:44

    Tron has seen a 7.35% price surge over the past 24 hours of trading, allowing the cryptocurrency to climb to a high of around $0.039. The price surge comes after Justin Sun, the CEO of Tron, tweeted that he has a big announcement upcoming on June 3rd;

    I did it! Big win for the #blockchain community! Big reveal June 3. Stayed tuned! #TRX $TRX $BTT #BTT http://t.co/C2ZcINfcKb

    — Justin Sun (@justinsuntron) June 1, 2019

    Justin Sun had stated that the reveal would be a “big win” for the entire blockchain community which has many users speculating as to what the announcement could be. Although unconfirmed, some have suggested it could be the upcoming BitTorrent Fiel System (BTFS) protocol which will allow users to receive and host storage with other individuals.

    Tron is now ranked in the 11th place amongst the top cryptocurrencies by market cap as it presently holds a $2.60 billion market cap. Tron is now only sitting $30 million behind the 10th place position holder, Stellar (XLM).

    Looking at the TRX/USD 1-Day Chart:

    • Against the US Dollar, Tron has now managed to create a fresh 2019 high above $0.036 and has even reached the $0.040 level before falling slightly. This has now created a new 11 month high for the cryptocurrency. We can see that Tron has now reached a resistance level of a long term bearish .382 Fibonacci Retracement around $0.03930.
    • From above: The nearest level of resistance lies between $0.03930 and $0.04040. Above $0.041, higher resistance lies at $0.04363, $0.046, and $0.048. If the bulls climb above $0.048, higher resistance is then located at $0.050.
    • From below: The nearest level of support lies at $0.038. Beneath this, further support lies at $0.03636, $0.03390 and $0.032. Below, further support lies at $0.03099, $0.030, and $0.028.
    • The trading volume has recently surged higher after the interest sparked following Sun’s tweet.
    • The RSI has also recently rebounded from the 50 level to show that the bulls remain in control of the market momentum.

    trxusd_jun2-min

    Looking at the TRX/BTC 1-Day Chart:

    • Against Bitcoin, Tron has recently rebounded around the 310 SAT level to reach the 450 SAT level. We can see that TRX/BTC had risen into resistance around the 100-days EMA before falling slightly.
    • From above: The nearest level of resistance now lies around 470 SAT where lies the 100-days EMA. Higher resistance lies at 500 SAT, 530 SAT, 563 SAT, and 625 SAT. IF the bulls continue higher, further resistance lies at 700 SAT, 750 SAT and 788 SAT.
    • From below: The nearest level of support now lies at 430 SAT. Beneath this, support lies at 411 SAT and 400 SAT. Below, further support lies at 371 SAT, 341 SAT, and 310 SAT.
    • The Stochastic RSI is currently trading in overbought conditions which could lead a correction soon.

    trxbtc_jun2-min

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Justin Sun Tron Tron (TRX) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yaz Sheikh
    More posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$27,990.00
  • ethereum
    ETH$1,914.75
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!