Technology

TRON (TRX) Cryptocurrency Takes Off Ahead of Tomorrow’s USDD Launch By Investing.com



Investing.com – In contrast to most cryptocurrencies in recent days, and in particular the one still stuck below $40,000, the cryptocurrency (TRX) is soaring 10% since yesterday and nearly 25% in a week. This strong rise has allowed it to enter the Top 20 of the most important cryptocurrencies, currently occupying the 20th position.

It is also the best performing cryptocurrency in the Top 20 at the time of writing, both in 24 hours and 7 days.

The main factor behind the outperformance of the TRON cryptocurrency is the upcoming launch (tomorrow, Thursday, May 5) of the USDD or “decentralized dollar”, which claims to be “the most decentralized stablecoin in the history of mankind”, and which will be released on the TRON network.

That is not all, as TRON has also announced plans to create a TRON DAO reserve, or in its words, “the blockchain industry’s first decentralized reserve”, news that is generating hype that benefits the cryptocurrency.

Important technical thresholds for the TRON (TRX) cryptocurrency

Regarding the evolution of the TRON chart, it is worth noting that the cryptocurrency has sent a positive signal today by crossing its 200-day moving average, after having moved below this indicator since the end of 2021.

Currently at $0.07616, this 200 day moving average should be considered as the first support near current prices.

To the upside, the psychological threshold of $0.08000, along with the March 31 high of $0.07950, form the first resistance zone to watch. Beyond this, the key $0.1 threshold could quickly be targeted.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button