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Tron Price Meets Buyers Expectations Compared to Other Top 20 Cryptocurrencies

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  • Tron Price is performing well in comparison to other top 20 cryptocurrencies.
  • TRON founder Justin Sun was recently added to Huobi Global crypto exchange as a committee member.
  • TRON price continued to expand higher on the weekly graph after moving above the descending wedge.

TRX – the native token of Tron – is back in a position of profit over the past few days. Tron founder Justin Sun was recently added as a committee member to the Huobi global crypto exchange on October 10th. Also, he added that Tron and the BitTorrent chain ecosystem are going to start working together. This merger will be done with Heco Developers.

Justin Sun constantly reveals his plans regarding Tron, and strives to add more TRX token values ​​to the crypto market. However it has been performing well against the sentiments of the crypto market as well as the overall global market in the past few days. The cryptocurrency is up about 12.5% ​​in the past three weeks so far, amid high moves.

Till September, the Tron price was underperforming lower the falling wedge pattern. Due to this value structure, buyers had lost nearly 40% to $0.055 support level. Later on buyers got rid of themselves from selling pressure. As a result, Tron price looks green and performs well compared to other top 20 cryptocurrencies like Bitcoin, Ethereum etc. 

At the time of writing, the Tron price against the USDT pair is trading at $0.06403 Mark along with 0.22% gain. Price action sustains above the upwards trendline (above the chart) but resists the $0.065 level. This immediate bullish hurdle of $0.065 pulled down TRX price several times in the last few days. 

TRX Price Hits 100 DMA 

In the daily time frame, Tron crypto prices gradually increase higher above the 20 and 50 day moving averages. Amid price recovery, sellers try to hold values lower than 100 DMA (yellow) this week. Eventually, RSI indicator sustains above its semi-line (52 mark) amid higher-low price trend. 

Conclusion 

The Tron price is forming a higher-low pattern so far in October. Notably, TRON price continues expanding higher in the weekly graph after moving through a falling wedge. Now the $0.065 level is observed as an immediate resistance level. 

Support level – $0.065 and $0.070

Resistance level – $0.060 and $0.055

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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