- Tron price down but bullish
- Partnership with Tether is positive for TRX
- Transactional levels low but stand to rise in days ahead
The collaboration between and Tether should further innovation and provide extra liquidity for based DEXs. Even so, it will be until Q2 2019 when this integration happens. Before then, bulls are in control, but trend confirmation depends on how fast prices close above 2.5 cents.
Tron Price Analysis
Fundamentals
That is a strategic as well as a game-changing decision for both companies. No doubt, both will benefit, and as innovative companies, the inclusion of a trusted stable coin creates a new opportunity for users meaning as a platform and TRX as a native currency stands to reap in significant benefits.
With the announcement, the top-most beneficiary will be DEXs that run off the . Add this to the milestone that now has more than two million and week-over-week growth in the number of transactions; the launch set for Q2 2019 will be a boon for TRX as the network would have better value storage capacity.
According to the CEO of Tether, Jean-Louis van der Velde:
“This integration underlines our commitment to furthering innovation within the space as we continue to anticipate the needs and demands of the digital asset community.”
Not only does this place ahead of the pack, but it will be the first time two leading firms partner for the sake of the community. The crossover will undoubtedly increase liquidity as USDT would be completely compatible with ’s protocols and dApps.
Candlestick Arrangement
Regardless, TRX is under pressure and one of the worst performers in the top 10. At press time, the coin was down 2.2 percent from last week’s close and appears to be banding with the lower BB band.
From our previous , bulls have a chance as long as they maintain prices above Jan 13-14 lows at 2.1 cents. What would trigger aggressive traders into action is if prices resist lower lows, build on the three-bar bull reversal pattern of Mar 3-5 and after that close above Mar 5 highs at 2.5 cents.
If not and there is a meltdown below 2.1 cents, the bullish breakout pattern of Jan 8 would be invalid.
Technical Indicator
In recent days, Feb 24 bear bar guides our analysis. It has an average of 37 million which is way above averages of 6.5 million. Although we are net bullish, we prefer complete reversal of Feb 24 losses behind high volumes exceeding 12 million of Mar 5 and preferably 37 million.
Published at Mon, 11 Mar 2019 18:01:08 +0000
